SHS Holdings Ltd. has announced a strategic transaction involving the sale of its 14.48% stake in Globalfund Capital Pte. Ltd. (GFC) to GFC itself. The agreement, signed on 11 September 2025, includes a share swap where SHS Holdings will receive 8.04 million shares in SED Energy Holdings PLC, known as Seabird, a Cyprus-based energy sector company. This exchange is part of a selective off-market acquisition under Singapore’s Companies Act.
The transaction, classified as a “Disclosable Transaction” under the Singapore Exchange’s Listing Manual, does not require shareholder approval. SHS Holdings will also pay GFC $12,900 (S$17,615.04), representing its share of certain expenses agreed upon by all GFC shareholders.
Globalfund Capital, an investment holding company, will see SHS Holdings divest its entire shareholding post-transaction. Seabird, listed on the Euronext Oslo Børs, operates in the oil and gas industry, providing marine seismic data acquisition and owning drilling rigs.
Completion of the transaction is contingent upon several conditions, including regulatory approvals and shareholder resolutions. SHS Holdings will bear all transaction-related costs, including legal fees capped at $13,200 (S$18,000). This strategic move allows SHS Holdings to realign its investment portfolio whilst gaining exposure to the energy sector through Seabird.
