Asset Acquisitions and Disposals::Increase in Shareholding in Siam City Cement Public Company Limited
Issuer & Securities
JARDINE CYCLE & CARRIAGE LIMITED
JARDINE CYCLE & CARRIAGE LTD - SG1B51001017 - C07
Asset Acquisitions and Disposals
Date &Time of Broadcast
Announcement Sub Title
Increase in Shareholding in Siam City Cement Public Company Limited
Submitted By (Co./ Ind. Name)
Jeffery Tan Eng Heong
Description (Please provide a detailed description of the event in the box below)
Jardine Cycle & Carriage Limited ("JC&C") wishes to announce that it has on 7 June 2017 acquired 988,800 ordinary shares in the capital of Siam City Cement Public Company Limited ("SCCC") by way of open market purchase for a cash consideration of THB299.6m (approximately US$8.8 million) (the "Purchase").
As a result of the Purchase, JC&C's shareholding in SCCC has increased from 25.2% to 25.5%.
The Purchase will be funded by internal resources and is not expected to have a material impact on the net tangible assets of the JC&C Group. SCCC has been equity accounted for as an associate and contributes to the earnings of the JC&C Group. Had the Purchase taken place on 1st January 2016, it would not have had a material impact on the JC&C Group s earnings per share for the financial year ended 31st December 2016. Had the Purchase taken place on 31st December 2016, it would not have had a material impact on the JC&C Group s net tangible assets per share for the financial year ended 31st December 2016.
None of the Directors or controlling shareholders of JC&C has any interest, direct or indirect, in the Purchase (save through their shareholding interests, if any, in JC&C or directorship in SCCC).