Asset Acquisitions and Disposals::CHANGE OF SHAREHOLDING INTEREST IN ASSOCIATED COMPANY

Issuer & Securities

Issuer/ Manager
UOL GROUP LIMITED
Securities
UOL GROUP LIMITED - SG1S83002349 - U14
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
16-Feb-2017 22:12:11
Status
New
Announcement Sub Title
CHANGE OF SHAREHOLDING INTEREST IN ASSOCIATED COMPANY
Announcement Reference
SG170216OTHR7KHL
Submitted By (Co./ Ind. Name)
Foo Thiam Fong Wellington
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of UOL Group Limited ("UOL" or the "Company") wishes to announce that its wholly-owned subsidiary, Pan Pacific Hospitality Pte. Ltd. ("PPH"), has entered into a sale and purchase agreement with Shwe Taung Junction City Development Co., Ltd ("Vendor") today to acquire an additional 20% shareholding interest, comprising 6,951,600 ordinary shares in the share capital of City Square Hotel Co. Ltd ("CSH") at US$1.2877 per share for an aggregate cash consideration of US$8,951,600 ("Acquisition"). Completion of the Acquisition has taken place concurrently today.

Upon completion of the Acquisition, PPH's shareholding interest in CSH has increased to 40%, and CSH shall remain an associated company of UOL.

Please see attached detailed announcement.

Attachments

UOL_Change_of Shareholding_Interest_in_Associated_Company.pdf
Total size =78K