Ever Glory United (SGX:ZKX) allotted and issued Tranche C consideration shares in connection with the acquisition of Fire-Guard Engineering, according to a filing with the Singapore Exchange on Monday.

Fire-Guard achieved a net profit before tax of about SG$1 million in 2024. Under the sale and purchase agreement, the amount of tranche C cash consideration and tranche C shares consideration was proportionately reduced.

SG$118.7 million of the tranche C consideration will be paid to the vendors, while 296,724 shares were allotted and issued.

Following the issuance of the shares, the company's total issued shares has increased to 348,513,123 shares.

The tranche C consideration shares are expected to be listed and quoted on the Catalist board on April 24 with trading to commence on the same date.