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Singapore Post Ltd Announces Acquisition Of Ek Media Pte Ltd


Monday, 2 Sep 2013 05:24am EDT 

Singapore Post Ltd announced that the Company has entered into a sale and purchase agreement dated September 2, 2013 (the Agreement) with Peh Sheng Chao, Kingsley and Tan Yi Zhen, Elfaine (collectively, the Vendors and each, a Vendor) for the acquisition (the Acquisition) of the entire issued and paid-up share capital of EK Media Pte Ltd (EK Media). EK Media owns and operates a online sampling platform in Singapore called The Sample Store, which focuses on distributing product samples to end-consumers. Under the Agreement, the Company is to pay a consideration of up to SGD1,200,000 (the Consideration), subject to EK Media’s business achieving certain performance thresholds after the completion of the Acquisition, and other adjustments after completion of the Acquisition. The Consideration will be satisfied wholly in cash and this will be funded from the Company’s internal resources. Upon completion of the Acquisition, EK Media will become a wholly-owned subsidiary of the Company. 

Company Quote

1.88
-0.0050 -0.27%
8:26pm EST