Exhibit 10.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
November 02, 2023
Commission File Number: 333-230479
SEATECH VENTURES CORP.
(Exact name of registrant issuer as specified in its charter)
| Nevada | 61-1882326 | |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
11-05 & 11-06, Tower A, Ave 3, Vertical Business Suite,
Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Malaysia.
(Address of principal executive offices, including zip code)
Registrant’s phone number, including area code +603 8408 1788
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||
| Common Stock, $0.0001 par value | SEAV | OTC Markets – Pink Sheets |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.01 Completion of Acquisition or Disposition of Assets
On October 13, 2023, SEATech Ventures Corp. (the “Company”) completed the acquisition of one hundred percent (100%) of the equity of Just Supply Chain Limited (“JSCL”). The purchase of 100% of the shares in JSCL was agreed at a consideration of MYR78 million, equivalent to approximately US$ 16.5 million (“Consideration”), consisting of 21,831,660 units in stock, based on an issuance price of $0.80 per share.
A copy of the Press Release dated October 30, 2023 titled “SEATech Ventures Completes 100% Acquisition of JustLorry” is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Acquisition Agreement dated July 12, 2023 between the Company, Lee Wai Mun, Tai Kau @ Tai Fah Chong, Wong Tien Erl, Lee Han Cien, Lee Wai Chun, Eik Chu Yew, Wong Po Leng and Tok Kai Weei | |
| 99.1 | Press Release dated October 30, 2023 titled “SEATech Ventures Completes 100% Acquisition of JustLorry” | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document) |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| SEATECH VENTURES CORP. | ||
| Date: November 02, 2023 | By: | /s/ CHIN CHEE SEONG |
| Chin Chee Seong | ||
| Title: | Chief Executive Officer (President, Director, Secretary and Treasurer) | |
| Date: November 02, 2023 | By: | /s/ TAN HOCK CHYE |
| Tan Hock Chye | ||
| Title: | Chief Financial Officer | |
| 3 |
Exhibit 10.1
Exhibit 99.1
