爱文思公司拟出售ATAC公司
The Board of Directors of Advanced Holdings Ltd. (the "Company", and together with its subsidiaries, the “Group”) wishes to announce that its wholly-owned subsidiary, Advanced Engineering Holdings Pte. Ltd. (the “Vendor”), had on 10 February 2022, Singapore time, entered into a conditional share sale and purchase agreement (the “SPA”) with Dr Mark Turpin and Mr Raymond Browne (the "Purchasers", together with the Vendor, the “Parties”), pursuant to which the Vendor has agreed to sell and the Purchasers have agreed to purchase the entire issued and paid-up share capital of Analytical Technology & Control Limited(“ATAC”) (the “Proposed Disposal”)，Upon the completion of the Proposed Disposal, ATAC will cease to be a subsidiary of the Group。Advanced Holdings Ltd.（“公司”，连同其子公司，“集团”）董事会谨此宣布，其全资子公司 Advanced Engineering Holdings Pte。 Ltd.（“卖方”）于新加坡时间 2022 年 2 月 10 日与 Mark Turpin 博士和 Raymond Browne 先生（“买方”，连同 卖方，「订约方」），据此，卖方已同意出售而买方已同意购买 Analytical Technology & Control Limited（「ATAC」）的全部已发行及缴足股本（「建议出售事项」 )，建议出售事项完成后，ATAC将不再为本集团的附属公司。
ATAC 1077 粘度计 Dr Mark Turpin, one of the Purchasers, is the research & development director of ATAC, while Mr Raymond Browne, the other Purchaser, is the managing director of Thermal Designs Ltd, a company that shares the site with ATAC at its registered address.As at the date of this announcement, the Purchasers do not have any shareholding interest, direct or indirect in the Company, nor are the Purchasers related to any of the Directors, Substantial Shareholders, or their respective associates of the Company.
其中一位购买者 Mark Turpin 博士是 ATAC 的研发总监，而另一位购买者 Raymond Browne 先生是 Thermal Designs Ltd 的董事总经理，该公司和ATAC在共享一个注册地址 。 于本公告日期，买方并无在本公司拥有任何直接或间接的股权，买方亦与本公司的任何董事、主要股东或其各自的联系人无关联。
ATAC, a company incorporated in the United Kingdom, is a wholly-owned subsidiary of the Company through the Vendor. ATAC specialises in the design, manufacture and supply of a range of online analysers for the process and quality control of refinery products, as well as a range of analysers for measuring calorific values of natural gas compositions in gas plants.
ATAC为一间于英国注册成立的公司，为本公司透过卖方之全资附属公司。 ATAC 专门设计、制造和供应一系列用于炼油产品过程和质量控制的在线分析仪，以及一系列用于测量天然气厂天然气成分热值的分析仪。
Comparing ATAC’s revenue of S$4.9 million for the financial year ended 31 December 2019 (“FY2019”), ATAC’s revenue decreased 61% to S$1.9 million for the financial year ended 31 December 2020 (“FY2020”). This is largely due to the COVID-19 pandemic. ATAC’s revenue contribution to the Group is not significant, amounting to less than 10%.Based on the unaudited financial statements of ATAC, the net tangible assets of ATAC recognised in the Group’s financial statements is S$1,015,890 as at 30 June 2021. The assets of ATAC mainly relates to old stocks maintained for the service of warranty which is unlikely to realise any significant value from disposal.
与 ATAC 在截至 2019 年 12 月 31 日的财年（“2019 财年”）的收入 490 万新元相比，ATAC 在截至 2020 年 12 月 31 日的财年（“2020 财年”）的收入下降了 61% 至 190 万新元。 这主要是由于 COVID-19 大流行。 ATAC对本集团的收入贡献不大，不到10%。
根据 ATAC 未经审计的财务报表，截至 2021 年 6 月 30 日，在本集团财务报表中确认的 ATAC 有形资产净值为 1,015,890 新元。ATAC 的资产主要是为保修服务而维护的旧库存，不太可能变现 处置产生的任何重大价值。
ATAC has reported operating losses for three consecutive years from the financial year ended 31 December 2018 (“FY2018”) to FY2020. In the financial period ended 30 June 2021 (“1H2021”), ATAC recorded other income of S$4 million as a result of the intercompany loan payable from ATAC to the Company being written off. Without the aforementioned other income of S$4 million, ATAC would record a loss after tax of S$68,000 in 1H2021.
从截至 2018 年 12 月 31 日的财政年度（“2018 财年”）至 2020 财年，ATAC 连续三年报告经营亏损。 在截至 2021 年 6 月 30 日的财政期间（“1H2021”），ATAC 记录了 400 万新元的其他收入，这是由于 ATAC 应付给本公司的公司间贷款被注销。 如果没有上述 400 万新元的其他收入，ATAC 将在 2021 年上半年录得 68,000 新元的税后亏损.
Given the poor performance of ATAC, the Company has been providing financial support to ATAC in the form of intercompany loans. As there is no sign of recovery in the operations and financials of ATAC, the Company had to write off approximately S$4 million of such loans for the six month period ending 30 June 2021. As such, ATAC also recorded an accounting gain of S$4 million in the corresponding period. This write-off is not reflected in the Group’s financial statements as they are both eliminated at the Group’s level during consolidation.
鉴于ATAC表现不佳，公司一直以公司间贷款的形式向ATAC提供财务支持。由于 ATAC 的运营和财务没有复苏迹象，公司不得不在截至 2021 年 6 月 30 日的六个月期间注销约 400 万新元的此类贷款。因此，ATAC 还录得 400万新元的会计收益同期万元。该核销并未反映在本集团的财务报表中，因为它们均在合并期间在本集团层面被抵销。
Due to the poor prospects of ATAC, continued losses and required financial support from the Group to maintain ATAC, the Company has explored many avenues in divesting ATAC to third parties, which in the end, did not materialise. The Company has also assessed the possibility of winding up ATAC. However, the Group will have to continue to take on the warranty liabilities which currently amount to approximately S$259,000. Furthermore, additional costs will need to be incurred for the winding up including liquidation and retrenchment costs which is estimated to be in excess of S$525,000。
由于ATAC前景不佳、持续亏损以及需要集团提供财务支持以维持ATAC，公司已探索多种途径将ATAC剥离给第三方，但最终未能实现。本公司亦已评估清盘 ATAC 的可能性。然而，本集团将不得不继续承担目前约 259,000 新元的保修责任。此外，清盘将需要产生额外费用，包括清算和裁员费用，估计超过 525,000 新元。
The Proposed Disposal allows the Company to divest its underperforming business and limit its risks to the prolonged uncertainty of external economic factors. The Board is of the view that ATAC is not a core asset of the Group and the Proposed Disposal will not affect the nature of the Group’s principal business and there will be no material change in the risk profile of the Group arising from the Proposed Disposal. The Board is also of the view that it is more beneficial for the Group to dispose ATAC to its current management than to continually incur more losses, provide financial support and/or to wind up ATAC. Upon the completion of the Proposed Disposal, the Company will be able to redirect its managerial efforts into existing operations, expand into other businesses and undertake new investment opportunities that may arise in future. After the completion of the Proposed Disposal, the Company does not expect to have any material transactions with ATAC and will only transact with ATAC on spare parts and repair for products sold prior to the completion of the Proposed Disposal which are still covered under warranty。
建议出售使公司能够剥离其表现不佳的业务，并将其风险限制在外部经济因素的长期不确定性中。董事会认为，ATAC并非本集团的核心资产，建议出售事项不会影响本集团主营业务的性质，本集团的风险状况不会因建议出售事项而发生重大变化。董事会还认为，有利于本集团将 ATAC 出售给当前管理层，而不是继续产生更多亏损、提供财务支持和/或清盘 ATAC。建议出售事项完成后，公司将能够将其管理工作重心转向现有业务，扩展到其他业务，并把握未来可能出现的新投资机会。建议出售事项完成后，本公司预计不会与ATAC进行任何重大交易，只会与ATAC就建议出售事项完成前售出的仍在保修范围内的产品的备件和维修进行交易。
Based on the above, the Board is of the view that the Proposed Disposal is in the best interests of the Company。
综上所述，董事会认为建议出售事项符合本公司的最佳利益。
BY ORDER OF THE BOARD董事会令Dr Wong Kar King王家金博士Managing Director
董事会总经理
10 February 2022
2022.2.10
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