Asset Acquisitions and Disposals::Increase in Shareholding in Truong Hai Auto Corporation
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 Truong Hai Auto Corporation
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 subscribed for new shares representing a 1.34% interest in the enlarged share capital of Truong Hai Auto Corporation ("THACO") at the placement price of VND128,500 per share, for a total cash consideration of VND3.9 trillion (approximately USD168.0 million). The completion of the subscription is expected to take place before the end of April 2019.
The subscription will increase JC&C's shareholding in THACO to 26.57%.
The subscription is funded by internal resources and borrowings, and is not expected to have a material impact on the JC&C Group's net tangible assets or earnings per share. Had the subscription taken place on 1st January 2018, it would not have had a material impact on the JC&C Group's earnings per share for the financial year ended 31st December 2018. Had the subscription taken place on 31st December 2018, 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 2018.
None of the Directors or controlling shareholders of JC&C has any interest, direct or indirect, in the transaction (save through their shareholding interests, if any, in JC&C or directorship in THACO).