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Acquisitions And Disposals :: Changes In Company's Interest :: Subscription Of Additional 20,000,000 Ordinary Shares Of US$1 Each In Transtel Engineering Pte Ltd
BackJul 27, 2011
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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, Transtel Engineering 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 Transtel Engineering Pte Ltd to the Company. Following the above, the total issued and paid-up share capital of Transtel Engineering Pte Ltd are as follows: - (a) US$20,000,000 comprising 20,000,000 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 27 July 2011 |
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