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Boardroom Ltd Announces Acquisition Of Remaining 40% Equity Interest In Boardroom China Holdings Pte. Ltd.


Wednesday, 3 Apr 2013 06:05am EDT 

Boardroom Ltd announced that pursuant to a Put Option Agreement dated September 3, 2010 entered into between the Company and LSC Management Consultants Pte Ltd, the Company had granted a put option to LSC for the 452,480 ordinary shares held by LSC, representing 40% of equity interest in Boardroom China Holdings Pte. Ltd.. The Company currently owns 60% of equity interest in Boardroom China Holdings Pte. Ltd. LSC had on April 3, 2013 exercised the put option under the terms of the Put Option Agreement and the Company will acquire the 452,480 ordinary shares of Boardroom China Holdings Pte. Ltd. from LSC at a Fair Value price of SGD2.32 per share, a total consideration of SGD1,049,753.60. Pursuant to the terms of the Put Option Agreement, the acquisition is expected to be completed by April 17, 2013 and, upon completion, Boardroom China Holdings Pte. Ltd. would become a wholly-owned subsidiary of the Company. The above transaction will be funded through internal cash resources and bank borrowings. 

Company Quote

0.565
-0.0050 -0.88%
24 Mar 2014