| |
|
|
|
 |
|
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 (the "Sale Shares") os JCS Digital Solutions Pte. Ltd.("JCSDS")(The "Acquisition"). In addition, TPPL has been granted a call option to acquire from the vendor of the Sale Shares and existing shareholder of JCSDS (the "Existing Shareholder") the remaining 49% of the issued share capital (the "Option Shares") of JCSDS. TPPL has in turn granted the Existing Shareholder a put option to require TPPL to purchase from her the Option Shares.
JCSDS carries on the business of servicing activities related to digital printing, which is complementary to the existing business of TPL.
The consideration for the Acquisition, Arrived at on a "willing-buyer-willing-seller" basis is S$1,632,000. The consideration, payable in cash on completion, will be funded from internal sources.
The net tangible asset value of JCSDS as at 31 December 2007 is estimated to be S$2.65 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
28 May 2008
Back
|
|
|
|
|
|
|
