General Announcement::MEMBERS' VOLUNTARY LIQUIDATION OF OCBC PEARL LIMITED
Issuer & Securities
OVERSEA-CHINESE BANKING CORPORATION LIMITED
OVERSEA-CHINESE BANKING CORP - SG1S04926220 - O39
Date &Time of Broadcast
Announcement Sub Title
MEMBERS' VOLUNTARY LIQUIDATION OF OCBC PEARL LIMITED
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
At an Extraordinary General Meeting of OCBC Pearl Limited (the "Company" or "OCBC Pearl"), held on 26 March 2015, the sole shareholder of the Company passed a special resolution for the members' voluntary winding-up of the Company. The Company is a wholly-owned subsidiary of Oversea-Chinese Banking Corporation Limited ("OCBC").
The voluntary liquidation of the Company is part of the ongoing rationalisation of the OCBC Group and is not expected to have any material impact on the net tangible assets or earnings per share of OCBC Group for the financial year ending 31 December 2015. The Company's assets which comprise mainly shares in OCBC Wing Hang Bank Limited will be transferred to OCBC as a return of surplus assets to its sole shareholder.