General Announcement::SALE OF ASSETS BY UOB BULLION AND FUTURES LIMITED

Issuer & Securities

Issuer/ Manager
UNITED OVERSEAS BANK LIMITED
Securities
UNITED OVERSEAS BANK LTD - SG1M31001969 - U11
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
19-Mar-2019 12:46:49
Status
New
Announcement Sub Title
SALE OF ASSETS BY UOB BULLION AND FUTURES LIMITED
Announcement Reference
SG190319OTHRBYBZ
Submitted By (Co./ Ind. Name)
Joyce Sia
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
United Overseas Bank Limited ("UOB") wishes to announce that following a review of the futures and options, brokerage and clearing business of the UOB Group ("Business"), its wholly-owned subsidiary, UOB Bullion and Futures Limited ("UOBBF"), has entered into an Asset Purchase Agreement with INTL FCStone Pte. Ltd. (a wholly owned subsidiary of INTL FCStone Inc. (NASDAQ: INTL)) of to sell certain assets of its Business for US$5m ("Sale"), with a view to winding down the Business after Completion. Completion of the Sale is subject to regulatory approvals.