Noble Group Ltd's Noble Jade B.V. Acquires Karakubske Khlibopryimalne Pidpryemstvo LLC; Announces Disposal Of Wholly-Owned Subsidiary

Noble Group Ltd announced that On June 14, 2012, the Company’s wholly-owned subsidiary, Noble Jade B.V., has acquired a shareholding interest of 90.74% in Karakubske Khlibopryimalne Pidpryemstvo LLC (KKP), a Ukrainian company, for an aggregate consideration of USD4.3 million. The consideration for shares was satisfied in cash and funded from internal resources. The consideration was agreed on a willing-buyer, willing-seller basis, taking into account the future business development and cash generating opportunity of the subject company. As at 31st May 2012, KKP had net tangible assets of USD838,000 and net book value of USD340,000. KKP owns silos for grain storage and is not listed on any securities exchange. On June 15, 2012, the Company has disposed of a 100% shareholding interest in Paway Limited (Paway), a company incorporated in British Virgin Islands. The consideration received by the Company for the disposal was AUD1.00. The consideration was satisfied in cash and was agreed on a willing-buyer, willing-seller basis, taking into consideration the Company’s commercial assessment of the subject company. As at the date of disposal, Paway had a book value and net tangible assets of AUD2.00.