ARA Asset Management : Acquisition of a subsidiary and an associated company – ARA Real Estate Investors XI Limited and Allworth Property Management Sdn. Bhd.

Asset Acquisitions and Disposals::ACQUISITION OF A SUBSIDIARY AND AN A...

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Asset Acquisitions and Disposals::ACQUISITION OF A SUBSIDIARY AND AN ASSOCIATED COMPANY

Issuer & Securities

Issuer/ Manager	ARA ASSET MANAGEMENT LIMITED
Securities	ARA ASSET MANAGEMENT LIMITED - BMG045121024 - D1R
Stapled Security	No

Announcement Details

Announcement Title	Asset Acquisitions and Disposals
Date & Time of Broadcast	22-Aug-2014 17:37:42
Status	Ne
Announcement Sub Title	ACQUISITION OF A SUBSIDIARY AND AN ASSOCIATED COMPANY
Announcement Reference	SG140822OTHRDEL8
Submitted By (Co./ Ind. Name)	Lim H ee Chiang
Designation	Director
Description (Please provide a detailed description of the event in the box below)	Please see attached.

Attachments

ARA-AcquisitionSubsidiary-AssociatedCo.pdf

Total size =78K

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Announce...

22/08/20l4

ANNOUNCEMENT ACQUISITION OF A SUBSIDIARY AND AN ASSOCIATED COMPANY

The Board of Directors of ARA Asset Management Limited (the "Company" or "ARA") wishes to announce that it has acquired:

i. one (1) ordinary share in the share capital of ARA Real Estate Investors XI Limited ("ARA REI XI"), representing 100% of the issued and paid-up share capital of ARA REI XI for an aggregate consideration of US$1. ARA REI XI is incorporated in the British Virgin Islands and is an investment holding company; and
ii. four hundred and ninety (490) ordinary shares in the share capital of Allworth Property Management Sdn. Bhd. ("Allworth PM"), representing 49% of the issued and paid-up share capital of Allworth PM for an aggregate consideration of RM490. Allworth PM, whose principal business activity is the provision of property management services, is a company incorporated in Malaysia.

The above acquisitions of shares at par value were funded through the Company's internal resources and were satisfied entirely in cash.

The acquisitions are not expected to have any material impact on the net tangible assets or earnings per share of ARA and its subsidiaries for the financial year ending 31 December

2014.

None of the Directors or the controlling shareholder of ARA has any interest, direct or indirect, in the above acquisitions.

By Order of the Board

ARA Asset Management Limited

Lim Hwee Chiang

Director

22 August 2014