|
Pursuant to Rule 704(15)(c) of the Listing Manual of the Singapore Exchange Securities Trading
Limited, Fraser and Neave, Limited (" the Company ") announces that Times Printers Private Limited
(" TPPL "), a wholly-owned subsidiary of the Company's subsidiary, Times Publishing Limited
( "TPL" ), has entered into a conditional agreement to acquire 51% of the issued share capital of
Starprint Production Pte. Ltd. (" SPPL ") (the " Acquisition "). TPPL has been granted an option to
acquire from the other shareholders of SPPL (the " Existing Shareholders ") the remaining 49% of the
issued share capital of SPPL. TPPL has also granted the Existing Shareholders an option to require
TPPL to purchase from them the remaining 49% of the issued share capital of SPPL.
SPPL carries on the business of servicing activities related to printing, which will be complementary to
the existing business of TPL.
The consideration for the Acquisition is S$985,000, and was arrived at on a "willing-buyer-willingseller"
basis. The consideration is payable in cash and is being funded by internal sources.
The net asset value of SPPL as at 31 December 2006 is estimated to be S$1.262 million.
The transaction is not expected to have a material effect on the net tangible assets per share or earnings per share of the Group for the current financial year.
None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in
the Acquisition.
Anthony Cheong Fook Seng
Group Company Secretary
3 September 2007
Back
|
|
