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Sgx ann chope15mar13

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Sgx ann chope15mar13

  1. 1. SINGAPORE PRESS HOLDINGS LIMITED (Registration No: 198402868E) (Incorporated in the Republic of Singapore) ANNOUNCEMENT TO THE SINGAPORE EXCHANGE LTDAnnouncement Pursuant To Rule 704(17)(c) Of The Singapore Exchange Securities Trading Limited Listing ManualSingapore Press Holdings Ltd (the “Company”) wishes to announce that its wholly-owned subsidiary, SPH Interactive Pte Ltd (“SPHI”), has subscribed for 865,703 newpreference shares in Chope Group Pte Ltd (“Chope”) at the consideration ofS$1,810,000 (the “Consideration”).The preference shares can be converted at the option of SPHI into ordinary shares inChope, 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 basisafter taking into account, various factors such as the existing assets, intellectualproperty rights, goodwill, financial position and business prospects of Chope. TheConsideration was wholly satisfied in cash and was funded from the Companysinternal resources.The acquisition is not expected to have any material impact on the net tangibleassets per share or earnings per share of the Company for the current financial yearending 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 theacquisition.Singapore,15 March 2013