Asset Acquisitions and Disposals::DISPOSAL OF WHOLLY-OWNED SUBSIDIARY

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
23-Aug-2019 19:27:38
Status
New
Announcement Sub Title
DISPOSAL OF WHOLLY-OWNED SUBSIDIARY
Announcement Reference
SG190823OTHR3OXX
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)
The Board of Directors of UOL Group Limited (the "Company") wishes to announce that the Company has through its indirect wholly-owned subsidiary, Hotel Investments (Suzhou) Pte. Ltd.("HIS"), entered into a conditional sale and purchase agreement to sell HIS' entire interest in the registered capital of Suzhou Wugong Hotel Co., Ltd, for a total net cash consideration of RMB408 million (S$80 million).

Please see attached detailed announcement.

Attachments

UOL_Disposal_of_wholly_owned_Subsidiary.pdf
Total size =118K