M&A - SAG Holdings Ltd

Form Type: SCHEDULE 13D

Filing Date: 2025-05-22

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225012125

Filing Summary: On May 15, 2025, Soon Aik Global Pte. Ltd. acquired 6,295,624 Ordinary Shares of INNEOVA Holdings Ltd as consideration for transferring all its interests in INNEOVA Engineering Pte. Ltd., a wholly-owned subsidiary. Soon Aik Global Pte. Ltd. now holds a total of 14,204,624 Ordinary Shares, representing 87.8% ownership of the company. This transaction was part of an acquisition and indicates significant ownership consolidation within the company. Soon Aik conducted no other transactions involving Ordinary Shares in the past 60 days.

Form Type: 20-F

Filing Date: 2025-05-14

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225010232

Filing Summary: On May 1, 2025, INNEOVA Holdings Limited announced its acquisition of a 100% stake in INNEOVA Engineering Pte. Ltd. from its controlling shareholder, Soon Aik Global Pte Ltd. This acquisition was approved during an extraordinary general meeting held on March 31, 2025. Furthermore, INNEOVA received approval from shareholders on April 1, 2025, to change the company name from SAG Holdings Limited to INNEOVA Holdings Limited, effective April 28, 2025. Post-name change, INNEOVA's shares began trading under the Nasdaq symbol 'INEO'. Additionally, the company completed an initial public offering on October 22, 2024, issuing 875,000 ordinary shares at $8.00 per share, resulting in net proceeds of approximately $4.9 million.