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Acquisitions And Disposals :: Changes In Company's Interest :: Subscription Of Additional 20,000,000 Ordinary Shares Of US$1.00 Each In Cse-Transtel Pte. Ltd.
BackDec 26, 2012
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| Description | The Board of Directors of CSE Global Limited (the "Company") wishes to announce that the Company has subscribed an additional 20,000,000 ordinary shares at US$1.00 each in its wholly-owned subsidiary, CSE-Transtel Pte. Ltd., for a total consideration of US$20,000,000 which was satisfied by way of capitalisation of an amount of US$20,000,000 due from CSE-Transtel Pte. Ltd. to the Company. Following the above, the total issued and paid-up share capital of CSE-Transtel Pte. Ltd. are as follows: (a) US$40,000,000 comprising 40,000,000 ordinary shares at US$1.00 each; and (b) S$25,000,000 comprising 25,000,000 ordinary shares at S$1.00 each. The above transaction is 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 Tan San-Ju Company Secretary 26 December 2012 |
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