Asset Acquisitions and Disposals::ACQUISITION OF SHARES IN ASSOCIATED COMPANY - UNITED INDUSTRIAL CORPORATION LIMITED

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
29-Jun-2017 19:11:01
Status
New
Announcement Sub Title
ACQUISITION OF SHARES IN ASSOCIATED COMPANY - UNITED INDUSTRIAL CORPORATION LIMITED
Announcement Reference
SG170629OTHR889R
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)
Pursuant to Rule 704(17)(d) of the SGX-ST Listing Manual, the Company wishes to announce that its aggregate direct and deemed interest in its associated company, United Industrial Corporation Limited ("UIC"), has increased to
701,048,530 shares or 48.959% of UIC's issued capital (1,431,907,362 shares) ("Shareholding Interest").

The increase in shareholdings arose from the receipt by the Company and its wholly-owned subsidiary, UOL Equity Investments Pte Ltd, of 333,926 UIC shares and 6,034,104 UIC shares respectively, under the UIC Scrip Dividend Scheme in lieu of cash dividend at an issue price of S$2.99 per share.

The Shareholding Interest also includes the 60,000,000 UIC shares in which the Company has a deemed interest, pursuant to the conditional option agreement entered into by the Company and Haw Par Corporation Limited ("Haw Par") on 22 June 2017, under which (i) Haw Par has granted the Company a call option over 60,000,000 UIC shares held by Straits Maritime Leasing Private Limited, a wholly-owned subsidiary of Haw Par, and (ii) the Company has granted Haw Par a put option over such 60,000,000 UIC shares. Further details on the conditional option agreement are set out in the Company's announcement released via SGXNET on 23 June 2017.