Change - Change in Corporate Information::Disposal of Golden Jubilee International Holding Pte. Ltd. and its subsidiaries

Issuer

Issuer/ Manager
GOLDEN AGRI-RESOURCES LTD

Announcement Details

Announcement Title
Change - Change in Corporate Information
Date &Time of Broadcast
13-Nov-2019 18:51:29
Status
New
Announcement Sub Title
Disposal of Golden Jubilee International Holding Pte. Ltd. and its subsidiaries
Announcement Reference
SG191113OTHRWW9U
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Director, Corporate Secretarial
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Golden Agri-Resources Ltd (the "Company" and together with its subsidiaries, the "Group") wishes to announce the disposal by the Group of its entire 75% shareholding interest in Golden Jubilee International Holding Pte. Ltd. ("GJIH"), a company incorporated in Singapore, represented by 36,375 fully paid up shares ("GJIH Shares"), for cash consideration of USD 363,750 (the "Disposal").

The consideration for the Disposal was arrived at on a willing-buyer willing-seller basis, based on the issue price of the GJIH Shares.

Following the Disposal, GJIH and its subsidiaries, GS Energy Holding Pte. Ltd., PT Bioenergi Semesta Mas, PT Jambi Semesta Biomassa and PT Riau Semesta Biomassa, ceased as subsidiaries of the Company.

By Order of the Board
GOLDEN AGRI-RESOURCES LTD



Rafael Buhay Concepcion, Jr.
Director
13 November 2019

Place Of Incorporation

Existing
Mauritius
New

Registered Address

Existing
New