Asset Acquisitions and Disposals::CHANGE OF SHAREHOLDING INTEREST IN SUBSIDIARY 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
17-Mar-2016 18:17:14
Status
New
Announcement Sub Title
CHANGE OF SHAREHOLDING INTEREST IN SUBSIDIARY COMPANY
Announcement Reference
SG160317OTHREBFS
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)
Further to the announcement by the Company on 5 February 2016 in connection with the conditional equity transfer agreement entered into between its wholly-owned subsidiary, UOL Capital Investments Pte. Ltd. ("UCI") and Tianjin Xiwang Real Estate Construction and Development Co., Ltd. ("Xiwang") to purchase Xiwang's 10% stake in Tianjin UOL Xiwang Real Estate Development Co., Ltd. ("Tianjin UOL Xiwang") for an aggregate cash consideration of RMB93.0 million, the Board of Directors is pleased to announce that the equity transfer has been completed on 17 March 2016 and Tianjin UOL Xiwang is now a wholly-owned subsidiary of the Company (held through UCI).