Key Developments: L.C. Development Ltd (LCDV.SI)
0.15SGD
23 May 2013
$-0.00 (-1.94%)
$0.16
$0.16
$0.16
$0.15
612,000
454,810
$0.17
$0.14
Latest Key Developments (Source: Significant Developments)
L.C. Development Limited Announces No Dividend For Q2 2013
L.C. Development Limited announced that no dividend has been declared for the second quarter of 2013 (period ended December 31, 2012). Full Article
L C Development Ltd's LCD (Indochina) Pte Ltd Enters Into Share Purchase Agreement With Auslaos Investments Pty Ltd
L C Development Ltd announced that its wholly-owned subsidiary, LCD (Indochina) Pte Ltd (LCDI), has entered into a share purchase agreement with Auslaos Investments Pty Ltd (the Vendor) to acquire from the Vendor a 15% equity interest (the Acquisition) in Gateway Enterprise Company Limited (Gateway). Prior to the Acquisition, LCDI already owns 85% of the issued and paid up capital of Gateway, a company incorporated in Lao People’s Democratic Republic, and is a special purpose company which owns and operates the serviced residence, Parkview Executive Suites located in Vientiane, Laos (Parkview). On completion of the Acquisition, Gateway would become a wholly-owned subsidiary of LCDI. The aggregate consideration for the Acquisition is USD410,000 (the Consideration) and comprises USD372,500 for the purchase of 150,000 ordinary shares in the share capital of Gateway and the discharge of the debt owed by Gateway to the Vendor in the sum of USD37,500. Full Article
L C Development Ltd Does Not Declare Dividend
L C Development Ltd announced that no dividend has been declared or recommended for the current financial period reported on. Full Article
L C Development Ltd Declares First And Final Cash Dividend
L C Development Ltd announced that the board has declared a first and final cash dividend of 0.50 cents per ordinary share (previous year : 0.50 cents per ordinary share). The payment date of the dividend is to be announced later. Full Article
L C Development Ltd Announces Completion Of Acquisition Through Subsidiary
L C Development Ltd announced that the acquisitions of the investment units in Phuket Island Property Fund by L C Hotels Pte Ltd (a wholly owned subsidiary of the Company) together with nine of its related companies, and all the physical moveable and immoveable assets of The Evason Phuket Limited by its sister company, JTM (Thailand) Limited were completed. In connection with the acquisition of the Fund, the Company has incorporated four new wholly owned subsidiaries, namely Bon 88 Investment Pte. Ltd.; Bon (38) Investment Pte. Ltd.; Rawai 88 Investment Pte. Ltd.; Rawai (38) Investment Pte. Ltd. Full Article
L.C. Development Limited Announces Proposed Acquisition Of 80% Ordinary Shares Of Cheong Hock Chye & Co.
L.C. Development Limited announced that it has entered into a sale and purchase agreement (the Agreement) with seven vendors, namely, Mr. Tan Tiong Cheng, Mr Yeo Eng Ching Danny, Ms Wong Loo Kuan Lydia, Mr Nicholas Wong Weng Hong, Mr Foo Suan Peng, Ms Sai Tok Guek and Ms Low Kin Hon (the Vendors), pursuant to which the Company proposes to acquire (the Proposed Acquisition) an aggregate of 1,440,000 ordinary shares (the Sale Shares) representing 80% of the issued and paid up voting share capital in Cheong Hock Chye & Co. (Pte.) Ltd (CHC). The consideration for the sale shares is SGD34,121,000, being the equivalent of approximately SGD23.695 per Sale Share. The consideration shall be satisfied in full by cash. The Company will be using its internal resources to fund the proposed acquisition. Completion of the proposed acquisition shall take place on the date falling seven business days after the date that the last of the conditions precedent is fulfilled (or waived by the Company) or such other date as the parties may agree and provided that Completion shall only take place if the completion of the sale and purchase of all the sale shares shall take place simultaneously. Full Article
L.C. Development Limited Proposes First And Final Dividend
L.C. Development Limited announced that the Board has declared a first and final cash dividend of SGD0.005 per ordinary share (previous year : SGD0.0025 per ordinary share). The payment date of the dividend is to be announced later. Full Article
L.C. Development Limited Announces Board Changes
L.C. Development Limited announced that David Lum Kok Seng has stepped down as Managing Director upon his appointment as Executive Chairman of the Company. Full Article
L.C. Development Limited Announces Sale of Land At KOH Samui, Thailand
L.C. Development Limited announced that two member companies of the LCD Group, Devaraya Co., Ltd (Devaraya) and JTM (Thailand) Limited (JTM) have entered into two separate sale and purchase agreements (Agreements) with three individuals, namely, Mr Prapol Phornprapha, Miss Prathama Phornprapha and Miss Prin Phornprapha (Purchaser) for the sale of two pieces of land with a combined area of approximately 75.92675 rai or 121,483 sq. m. located at Tambon Bophut, Amphoe Koh Samui, Surat Thani Province, Thailand (Sale). Both Devaraya and JTM are incorporated in Thailand. The piece of land owned by Devaraya has an area of approximately 50.128 rai or 80,205 sq. m. (Land A) and the piece of land owned by JTM has an area of approximately 25.79875 rai or 41,278 sq. m. (Land B), (Land). Under the terms of the respective Agreements : Devaraya will sell and the Purchaser will buy Land A for a cash consideration of THB353 million (approximately SGD14.8 million); and JTM will sell and the Purchaser will buy Land B for a cash consideration of THB182 million (approximately SGD7.7 million). The aggregate consideration of THB535 million (approximately SGD22.5 million) (Consideration) was arrived at following negotiations on a 'willing-buyer', 'willing-seller' basis taking into consideration inter alia the market value of the Land. Completion of the Sale scheduled to take place on June 28, 2011. Full Article
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