CSC Holdings Ltd Announces Proposed Acquisition Of Remaining 30% Stake In Double Wong Foundation Pte Ltd

CSC Holdings Ltd announced that the Company has entered into a conditional sale and purchase agreement dated November 22, 2012 with Mr. Wong Tuck Wai (the Vendor) and Double Wong Foundation Pte. Ltd. (DWF), pursuant to which the Vendor shall sell and the Company shall purchase 3,005,226 ordinary shares of DWF, representing 30% of its issued and paid-up share capital, for the consideration of SGD1,500,000. The Company intends to use internal sources of funds and/or external borrowings to finance the Consideration payable to the Vendor.