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Singapore Press Holdings Ltd Announces Acquisition Of SGCM Pte. Ltd

Monday, 1 Apr 2013 06:50am EDT 

Singapore Press Holdings Ltd announced that it has entered into a sale and purchase agreement (the Agreement) with JDB Investment (BVI) Inc., Goh Cher Ngann, Ong Poh Huat (Wang Baofa), Seah Hon Hui, Tan Jinglun and Tan Boon Kiat, Vincent (Chen Wenjie, Vincent) (together, the Vendors), pursuant to which the Company has agreed to purchase from the Vendors, all of the issued shares of SGCM Pte. Ltd. (SGCM) (comprising an aggregate of 100,000 ordinary shares), and from SGCM and Quotz. Pte. Ltd. (a subsidiary of SGCM), certain trademarks and other intellectual property rights. The maximum aggregate consideration payable by the Company under the Agreement is SGD60,000,000 and was arrived at following arm’s length negotiations on a willing-buyer, willing-seller basis and taking into account, inter alia, various factors such as the existing assets, intellectual property rights, goodwill, financial position and business prospects of SGCM. The consideration will be payable wholly in cash. 

Company Quote

0.03 +0.73%
19 Dec 2014