Increase Of Shareholding In Subsidiary
BackJul 31, 2009Singapore Press Holdings Limited ("SPH") wishes to announce that, with effect from 31 July 2009, its shareholding in a subsidiary, 701Sou (Hong Kong) Pte Limited ("701Sou (HK)"), has been increased from 55% to 65%. SPH's shares in 701Sou (HK) are held through a wholly-owned subsidiary, SPH Interactive International Pte Ltd ("SPHII"). The increase is a result of the purchase by SPHII of 2,500,000 shares in 701Sou (HK) from 701Search Pte Ltd ("701Search") at S$1 per share. With the above, 701Search (which is 50% owned by SPHII) will cease to be a shareholder of 701Sou (HK).
The transaction has no material impact on the earnings per share or the net asset per share of SPH for the financial year ending 31 August 2009.
Mr Willie Cheng, a Director of SPH, is also a Director of SPHII and 701Search. Except as disclosed herein, none of the Directors of SPH has any interest, direct or indirect, in the transaction.
Issued by Singapore Press Holdings Ltd
31 July 2009