Asset Acquisitions and Disposals::CHANGE OF SHAREHOLDING INTEREST IN SUBSIDIARY COMPANY

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
05-Feb-2016 17:08:24
Status
New
Announcement Sub Title
CHANGE OF SHAREHOLDING INTEREST IN SUBSIDIARY COMPANY
Announcement Reference
SG160205OTHRI76N
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 wishes to announce that its wholly-owned subsidiary, UOL Capital Investments Pte. Ltd., which has a 90% stake in Tianjin UOL Xiwang Real Estate Development Co., Ltd. ("Tianjin UOL Xiwang"), has entered into a conditional equity transfer agreement with Tianjin Xiwang Real Estate Construction and Development Co., Ltd. ("Xiwang") to purchase Xiwang's 10% stake in Tianjin UOL Xiwang for an aggregate cash consideration of RMB93.0 million (equivalent to approximately S$19.8 million). The equity transfer agreement is conditional upon, inter alia, various governmental and regulatory approvals. Please see attached.

Attachments

UOL_Change_of_Shareholding_Interest_in_Subsidiary_Company_TianjinUOL.pdf
Total size =79K