ACQUISITIONS AND DISPOSALS :: CHANGES IN COMPANY'S INTEREST :: INCREASE IN ISSUED AND PAID-UP SHARE CAPITAL OF SPORTS CATERING SERVICES PTE. LTD.
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Increase in issued and paid-up share capital of Sports Catering Services Pte. Ltd.
SATS Ltd. (the Company) wishes to announce that its indirect subsidiary, Sports Catering Services Pte. Ltd. (SportsCat) has increased its issued and paid-up share capital by way of an allotment and issuance of a total of 4,000,000 new ordinary shares of S$1.00 each (the New Shares) to its shareholders, Singapore Food Industries Pte. Ltd. (SFI) and Delaware North Companies Australia Pty Ltd, in accordance with the proportion of their shareholdings in SportsCat (the Share Increase).
SFI, a wholly-owned subsidiary of the Company, holds a 70% equity stake in SportsCat. Following the allotment and issuance of the New Shares, SportsCats issued and paid-up share capital is now S$14,000,000 comprising 14,000,000 ordinary shares.
The Share Increase is not expected to have any material impact on the Companys net tangible assets and consolidated earnings per share for the current financial year.
None of the Directors, substantial shareholders or controlling shareholders of the Company has any interest, direct or indirect, in the above transaction, other than through their respective interests (if any) in the Company.
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