|1 JULY 2005 - Singapore Press Holdings Ltd ("SPH") wishes to announce that with effect from today, its wholly owned subsidiary, The Straits Times Press (1975) Ltd ("STP") has transferred its entire stake in the capital of Lianhe Publishing Pte Ltd ("LHP"), to its 100%-owned subsidiary, SPH Magazines Pte Ltd ("SPHM") in return for a further 600,000 new ordinary shares at the par value of S$1.00 each in the capital of SPHM. After this transaction, STP will hold 10,600,000 ordinary shares in SPHM. |
LHP is the publisher of a leading Chinese lifestyle magazine in Singapore and Malaysia entitled "Citta Bella 都 会 佳 人 ".
The transaction is fully funded by internal resources and has no material impact on the earnings and the net tangible assets per share of SPH in the financial year ending 31 August 2005.
None of the directors of SPH has any interest, direct or indirect in this transaction.
Submitted by Ginney Lim May Ling, Group Company Secretary to SGX on 1/07/2005.