1. SINGAPORE PRESS HOLDINGS LIMITED
(Registration No: 198402868E)
(Incorporated in the Republic of Singapore)
ANNOUNCEMENT TO THE SINGAPORE EXCHANGE LTD
Announcement Pursuant To Rule 704(17)(c) Of The Singapore Exchange Securities
Trading Limited Listing Manual
Singapore Press Holdings Ltd (the “Company”) wishes to announce that its wholly-
owned subsidiary, SPH Interactive Pte Ltd (“SPHI”), has subscribed for 865,703 new
preference shares in Chope Group Pte Ltd (“Chope”) at the consideration of
S$1,810,000 (the “Consideration”).
The preference shares can be converted at the option of SPHI into ordinary shares in
Chope, and assuming full conversion of all preference shares issued by Chope,
SPHI’s preference shares would represent 27.87% of the ordinary shares in Chope.
The Consideration was arrived at on an arms' length willing-seller-willing-buyer basis
after taking into account, various factors such as the existing assets, intellectual
property rights, goodwill, financial position and business prospects of Chope. The
Consideration was wholly satisfied in cash and was funded from the Company's
internal resources.
The acquisition is not expected to have any material impact on the net tangible
assets per share or earnings per share of the Company for the current financial year
ending 31 August 2013.
Apart from Mr Willie Cheng, a director of the Company, being also a director of SPHI,
none of the directors of the Company has any interest, direct or indirect, in the
acquisition.
Singapore,
15 March 2013