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L C Development Ltd's LCD (Indochina) Pte Ltd Enters Into Share Purchase Agreement With Auslaos Investments Pty Ltd

Monday, 7 Jan 2013 05:46am EST 

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‚Äôs 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. 

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