Change - Change in Corporate Information::Amalgamation of subsidiaries of United Overseas Bank Limited
UNITED OVERSEAS BANK LIMITED
Change - Change in Corporate Information
Date &Time of Broadcast
Announcement Sub Title
Amalgamation of subsidiaries of United Overseas Bank Limited
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
United Overseas Bank Limited (UOB) wishes to announce that pursuant to Section 215D of the Companies Act (Chapter 50), UOB's wholly-owned subsidiary UOB Asset Management Ltd (UOBAM) has amalgamated with its wholly-owned subsidiary, UOB Alternative Investment Management Pte. Ltd., with UOBAM being the surviving amalgamated company (the Amalgamation). The Amalgamation is effective on 31 August 2020.
The Amalgamation will result in operational efficiency and facilitate the development of UOBAM's ability to offer highly customised multi-asset solutions to its clients.
The Amalgamation is not expected to have any material impact on the earnings per share or the net tangible assets per share of the UOB Group for the financial year ending 31 December 2020.
Place Of Incorporation