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Catcha Media Berhad Completes Disposal Of Auto Discounts Sdn Bhd And Assets Relating To Automotive Publications

Friday, 27 Jul 2012 05:45am EDT 

Catcha Media Berhad announced that the disposal of Company's subsidiary, Auto Discounts Sdn Bhd, and the assets owned by Catcha Lifestyle Publications Sdn Bhd relating to the automotive publications under the license from Dennis Publishing Limited to ICAR Asia Ltd (a special purpose vehicle held by Catcha Group Pte Ltd) and/or its nominees for an aggregate disposal consideration of AUD 8,400,000 to be satisfied entirely by the issuance of 52,500,000 new ordinary shares in ICAR Asia for an issue price of AUD 0.16 per ICAR Asia share was completed on July 27, 2012.