Microsoft Word - Wendys Completion Press Release (v2)

NEWS RELEASE

GLOBAL YELLOW PAGES ANNOUNCES SUCCESSFUL COMPLETION OF ACQUISITION OF INTELLECTUAL PROPERTY RIGHTS FOR WENDY'S SUPA SUNDAES BRAND

Singapore, September 10, 2014 - Global Yellow Pages Limited ("GYP" or the "Group") today announced that the Group has successfully completed the A$10m acquisition of the intellectual property rights for Wendy's Supa Sundaes brand from Wendy's Supa Sundaes Pty Ltd and Innovation Ice Cream (IIC) Pty Ltd. The A$10m consideration was paid using proceeds from GYP's rights issue completed in June 2014.
The Group also announced the commencement of the Licence Agreement with Asia Food Retail Group Pte Ltd ("Asia Food") in respect of the licence granted to Asia Food to use or sub- licence the use of GYP's intellectual property rights of Wendy's in Australia, New Zealand and other agreed territories. Asia Food will pay a royalty fee for the licence based on the greater of a percentage of retail sales and a minimum annual fee.
Mr Stanley Tan, Executive Director and Chief Executive Officer of the Group said: "We are excited with the acquisition of a well-established brand like Wendy's. With over 200 stores across Australia and over 30 stores in New Zealand, we are already one of the largest in the ice-cream retail business category in all of Australasia and we intend to build this even bigger. We believe there is a significant potential for the brand to grow and expand in Asia, especially China. This acquisition is a continuation of the Group's deliberate strategy to diversify into the food and beverage sector to expand its operating base and enhance shareholders' value. The minimum royalty income under the Licence Agreement with Asia Food is income accretive and is expected to contribute meaningfully to the Group's results at its current base, and we intend
to grow that base with Asia Food and other potential partners as we expand in Asia."
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About Global Yellow Pages Limited
Global Yellow Pages Limited (GYP) is a multi-platform solutions company focusing on up-to- date search, SME enablement and database marketing. It is also the largest publisher of directories and provider of classified directory advertising and associated products and services in Singapore. Listed on SGX-ST, the Group continues to develop and expand its suite of products and services to ensure usability and accessibility in a changing market.
In addition to its core print directories and Internet Yellow Pages, the Group includes Singapore Information Services Pte Ltd, Global, eFusion Solutions Pte Ltd (eFusion) and Singapore River Explorer Pte Ltd (River Explorer). Singapore Information Services provides database marketing services; eFusion has proven success through its sales and voice-based solutions and River Explorer offers water transportation services at the Marina Reservoir. The Group's associated company, Yamada Green Resources Limited, is a major supplier of edible fungi, operating one of the largest mushroom cultivation bases in Fujian Province, PRC.
For further information, please visit http://www.yellowpages.com.sg/www.yellowpages.com.sg.

ISSUED BY: Global Yellow Pages Limited
1 Lorong 2 Toa Payoh Yellow Pages Building Singapore 319637
CONTACT: Mr. Chua Joan Keat DURING OFFICE HOURS: 6356-8080 (Office) FAX: 6351-1389
EMAIL: ir@yellowpages.com.sg

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