Change - Change In Corporate Information :: Increase In Shareholding Interest In CWT Europe B.V.

CWT LIMITED
(the 'Company')
Company Registration Number: 197000498M
(Incorporated in the Republic of Singapore)

INCREASE IN SHAREHOLDING INTEREST IN CWT EUROPE B.V.

Pursuant to Rule 704(17)(d) of the SGX-ST Listing Manual, CWT Limited wishes to announce that its effective interest in its indirect subsidiary CWT Europe B.V. has increased from 70% to 100% for a cash consideration of Euro 12,959,000 ('Consideration') arising from the consummation of an existing put and call option agreement with the management shareholders of CWT Europe B.V. The Consideration was determined on a willing buyer and willing seller basis with reference to the revalued net tangible assets ('RNTA') value of CWT Europe B.V. and its subsidiaries. The RNTA comprises largely warehouses located in Europe, which were valued by independent professional property valuer.
Incorporated in The Netherlands, CWT Europe B.V. provides warehousing and related logistics services for metals and soft commodities in Europe and Africa.

The above transaction is not expected to have any material impact on the net tangible assets or earnings per share of the CWT Group for the financial year ending 31 December 2017.

None of the Directors or the controlling shareholders of CWT Limited has any interest, direct or indirect, in the Company.

BY THE ORDER OF THE BOARD OF
CWT LIMITED

Lye Siew Hong - Lynda Goh
Company Secretary
23 June 2017