News
Acquisitions And Disposals :: Changes In Company's Interest :: Establishment Of Subsidiary - Galon Holdings Pte. Ltd.
BackMar 04, 2014
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| Acquisitions and Disposals |
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| Description | The Board of Directors (the "Board") of Singapore Windsor Holdings Limited (the "Company") wishes to announce that the Company has acquired and established a direct wholly-owned subsidiary known as Galon Holdings Pte. Ltd. (the "Subsidiary") with an initial issued and paid-up capital of S$1.00 comprising 1 ordinary share. The principal activity of the Subsidiary is investment holding and shall serve as the operating subsidiary of the Company. The Subsidiary does not hold any assets and has not commenced business since its incorporation by Mr Ho Kwok Wai, Executive Director and Chairman of the Company; who was the sole shareholder and director of the Subsidiary from its incorporation on 7 January 2014. The consideration of S$1.00 for the acquisition and establishment of the Subsidiary shall be paid in cash and takes into account the issued and paid-up capital of the Subsidiary. The Company shall bear the professional fees and other costs incurred in connection with the incorporation of the Subsidiary. The expenses incurred by the Company in the acquisition and establishment of the Subsidiary do not exceed S$100,000 (for the purposes of Chapter 9 of the Listing Manual of the SGX-ST) and do not exceed the relevant materiality thresholds under Chapter 10 of the Listing Manual of the SGX-ST. The acquisition and establishment of the Subsidiary is not expected to have any material impact on the earning per share and net tangible assets per share of the Company for the current financial year. Save as disclosed above, none of the other directors or controlling shareholders of the Company has any interest, direct or indirect, in the acquisition and establishment of the Subsidiary. By Order of the Board Ho Kwok Wai Executive Director and Chairman 4 March 2014 |
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