Poh Tiong Choon Logistics Ltd Announces Acquisition Of Remaining 49% Equity Interest In PTC Marine Private Limited From Pacific Win Enterprises Ltd

Poh Tiong Choon Logistics Ltd announced that the Company has on July 6, 2012 entered into an agreement for sale and purchase of shares (the Agreement) to acquire the remaining 49% equity interest comprising 980,000 issued ordinary shares fully paid up (the Sale Shares) in PTC Marine Private Limited (PTC Marine) from Pacific Win Enterprises Ltd (PWE) (the Acquisition) for a total consideration of SGD163,650 (Purchase Price) payable in cash on completion of the Acquisition. Following the completion of the Acquisition, PTC Marine will become a wholly-owned subsidiary of the Company.