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Acquisitions And Disposals :: Changes In Company's Interest :: Subscription Of Preference Shares In Cse-Hankin Inc.
BackDec 27, 2013
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| Acquisitions and Disposals |
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| Description | The Board of Directors of CSE Global Limited (the "Company") wishes to announce that the Company's subsidiary, CSE-Hankin (Singapore) Pte. Ltd., has subscribed for 1,000 new preference shares at par value of US$1,000 each in its wholly-owned subsidiary, CSE-Hankin Inc. for a total cash consideration of US$1 million. Following the above, the total issued and paid-up share capital of CSE-Hankin Inc. are as follows: a) US$8,250 (equivalent to S$10,453) comprising 82,500 ordinary shares at par value of US$0.10 each; and b) US$3,000,000 (equivalent to S$3,801,000) comprising 3,000 preference shares at par value of US$1,000 each. The above transaction was funded by internal resources and is not expected to have any material impact on the net tangible asset per share and earnings per share of the Group for the current financial year. None of the Directors or controlling shareholders of the Company has any interests, direct or indirect, in the above transaction. By Order of The Board Jimmy Yap Company Secretary 27 December 2013 |
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