Wei-Hsien Lin acquired 67.5% stake in Yummies, Inc. from Susan Santage for $0.33 million.
August 28, 2018
Share
Wei-Hsien Lin acquired 67.5% stake in Yummies, Inc. from Susan Santage for $0.33 million on August 29, 2018. Under the terms of the agreement, Wei-Hsien Lin acquired 1.69 million shares of Yummies for $0.19231 per share. The consideration will be paid at closing. Accordingly, as a result of the transaction, Wei-Hsien Lin became the controlling shareholder of Yummies and Susan Santage will not hold any stake in Yummies. Wei-Hsien used its personal funds to acquire the shares. Wei-Hsien did not borrow any funds to acquire the shares. In connection with the acquisition, Yummies’ sole Director, Susan Santage, resigned as Chief Executive Officer and appointed a new Chief Executive Officer for Yummies, Wei-Hsien Lin. The transaction is subject to completion of legal, business and financial due diligence of Yummies, third-party consents and resignation, effective as of the Closing, of the sole Director and Officer of Yummies.
Wei-Hsien Lin completed the acquisition of 67.5% stake in Yummies, Inc. from Susan Santage on August 29, 2018.
YUMMIES, INC., through its wholly owned subsidiary, Yummies Knowledge Management Pte. Ltd., is in the business training and entrepreneurship education sector. The Company provides management consultancy services and the provision of corporate training programs and motivational courses in various areas of business management and entrepreneurship. It helps students learn about managing cash flow, raising capital, writing business plans, negotiations, organizational skills, business strategies and sales and marketing as well as soft skills soft skills, such as building effective winning teams. Business training and entrepreneurship education provides students with the skill sets, networking opportunities with other budding entrepreneurs and motivation to encourage entrepreneurial success in a variety of settings. The Company organizes and conducts Chinese language courses based either on third party programs or its own programs in China, Malaysia, Singapore, Taiwan, and Hong Kong.
YUMMIES, INC. 
