Taking effect from February 05, 2020, SB Capital Management INC, a USA based organization has announced its merger with Newlife Investment Group, a Ha Noi, Vietnam based organization. Both the parties want the merger to be reorganization within the meaning of Internal Revenue Code (IRC) 368(a)(1)(A) and Vietnam tax. According to the contract, equity of SB Capital Management will be completely acquired by Newlife Investment Group and the operations of SB Capital Management will cease. However, the merged company will work under the name of SB Management Group. If any changes occur in the common stocks, before the closing date or declare or pay any dividend before the closing date then, an appropriate adjustment will be made in the common stocks. Both the parties have intended that the transaction should be treated as a tax-free event and none of the parties will take the position on a tax return. The article of incorporation of Newlife Investment Group, before the closing date, will be the article of incorporation for the surviving company. The closing of the transactions mentioned in the agreement will occur at San Francisco, California, USA on February 05, 2020, or any other date mutually decided by both the companies. At closing, both companies will fill the article of merger with the Nevada Secretary of State.
Details pertaining to the shareholders of both the companies are clearly stated in the contract. As on the closing date, shares of SB Capital Management INC and shares of Newlife Investment Group will thereafter represent the shares of the common stock of the surviving company. On the closing date, all shareholders of SB Capital Management INC whose shares are converted into the shares of the common stock of the surviving company will receive a certificate that represents their ownership in the surviving company.
The current CEO of Newlife Investment Group and also the chairman of GoldGame, Vietnam, Mr. Nguyen Van Anh will be the new CEO of the surviving company that is, he will be the new CEO of SB Management Inc. He commented, “A merger was formed with SB Capital Management Inc. to help Newlife Investment Group broaden its or strengthen its investors in global market”. He also said, “Our team will allow SB Capital Management Inc. greater access to Vietnam Market.”
Along with that, Mr. Levi Russell, the current president of SB Capital Management Inc, will be the Co-founder and President of the Surviving Company that is, he will be the Co-founder and President of SB Management Inc. He also has some thoughts to share and he said, “The combination of Newlife Investment Group with our Hedge Fund Managers will provide our clients more profit for their investment” and also commented, “This partnership is also expected to result in greater efficiencies and significantly increase our market share.”
Speaking of Mr. Levi Russell, he started SB Capital Management Inc. in 2008. He returned 11.5% annually after fees between 2008 and early 2013. He likes to invest in companies that are trading well below their intrinsic value and short the ones that are trading well above it. He looks for mispriced securities with at least 38% margin of safety that have significant catalysts. Mr. Levi believes “a bargain that stays a bargain is not a bargain”.
SB Capital Management Inc.
1 SANSOME STREET
35TH FLOOR
SAN FRANCISCO, CALIFORNIA, 94104
(415) 590-4857
[URL]WWW.SBCAPITALMANAGEMENTINC.COM[/URL]