Retail Holdings N.V. Considering Potential Sale Of A Portion Of Its
Equity Interest In Singer Asia
WILLEMSTAD, Curacao, June 11, 2013 /PRNewswire/ -- Retail Holdings
N.V. (Symbol: RHDGF) -- Retail Holdings N.V. ("ReHo" or the
"Company"), announced today that, together with UCL Asia Partners
L.P., ReHo's partner in Singer Asia Limited ("Singer Asia"), it is
considering an initial public offering ("IPO") on the Main Board of
the Singapore Exchange Securities Trading Limited (the
"SGX-ST") of Sewko Holdings Limited ("Sewko"), a newly
formed company to hold Singer Asia and its subsidiaries and
associate companies. The Company would expect to sell a portion of
its equity interest in Singer Asia through the IPO. Sewko would
hold eight listed companies: Singer Bangladesh Limited., Singer
India Limited., Singer Pakistan Limited., Singer (Sri Lanka) PLC, Singer Finance (Lanka) PLC,
Regnis (Lanka) PLC, Singer Industries (Ceylon) PLC, and Singer
Thailand Public Co. Limited.
Chairman's Comments
Commenting on the potential IPO of Singer Asia through Sewko,
Stephen H. Goodman, the Company's
Chairman, President and CEO, noted, "The SGX-ST is a favorable
venue for a potential listing given the exchange's international
status and geographic focus. I believe that a listing both would
provide funds for growth at Singer Asia while advancing ReHo's
strategy of maximizing and monetizing the value of its assets. It
is important to note, however, that there are considerable risks
and uncertainties to a possible IPO and that an IPO on the SGX-ST,
or any other stock exchange, may not take place for some time, or
ever, and that the values realized if an IPO does take place, may
be less than anticipated."
About Retail Holdings N.V.
The Company holds three principal assets: 1) a 55.9% equity
interest in Singer Asia, a distributor of consumer durable products
in Bangladesh, India, Pakistan, Sri
Lanka and Thailand with
consumer credit and other financial services available to qualified
customers; 2) the SVP Notes, arising from the sale of the Singer
worldwide sewing business and trademark in 2004; and 3) cash and
cash equivalents. The Company has no operating activities other
than those carried out through Singer Asia.
ReHo is a Curacao public
company, which is the successor company to the Singer Company N.V.
and its predecessor companies. Price quotations for the Retail
Holdings Shares are available on the OTC Pink "Pink Sheets"
quotation service under the symbol "RHDGF".
Additional financial and other information about the Company
including: ReHo's audited, consolidated financial statements for
the twelve months ended December 31,
2012, and all prior statements since September 2000, together with Auditor's Reports
thereon; the 2012 Annual Report dated March
2012, and all prior Disclosure Statements and Reports since
September 2000; and copies of all
semi-annual and quarterly reports and press releases since
September 2000; may be found at the
Corporate/Investor section of the ReHo's website:
www.retailholdings.com.
For further information, please contact Amy Pappas at (914) 241-3404.
This press release does not constitute or form any part of
any offer for sale or subscription of, or solicitation of any offer
to buy or subscribe for, any securities in the United States. Specifically,
this document does not constitute a "prospectus" within the meaning
of the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"). Any securities related to this
press release may not be offered or sold in the United States unless they are registered
or exempt from registration. Any public offering of
securities to be made in the United
States would be by means of a prospectus that could be
obtained from Sewko or any selling shareholder and that would
contain detailed information about Sewko and management, as well as
financial statements. Sewko does not intend to make any public
offering of any securities in the United
States.
SOURCE Retail Holdings N.V.