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Placements::Receipt of Approval from the Monetary Authority of Singapore for Substantial Shareholder Issuer & SecuritiesIssuer/ Manager | SINGAPORE POST LIMITED |
Securities | SINGAPORE POST LIMITED - SG1N89910219 - S08 |
Announcement Title | Placements |
Date & Time of Broadcast | 17-Jul-2014 19:27:31 |
Status | New |
Announcement Sub Title | Receipt of Approval from the Monetary Authority of Singapore for Substantial Shareholder |
Announcement Reference | SG140717OTHR6AM3 |
Submitted By (Co./ Ind. Name) | Winston Paul Wong Chi Huang |
Designation | Joint Company Secretary |
Description (Please provide a detailed description of the event in the box below) | Please refer to the attachment. The "Capital Amount-Old" and the value of 33,312,000 treasury shares are based on the details as at 28 May 2014 and "Capital Amount-New" includes the issuance of new 6,074,000 ordinary shares pursuant to the exercise of options since 28 May 2014 up to-date. |
Capital Amount-Old | SGD 90,995,716.94 |
Capital Amount-New | SGD 367,492,378.94 |
No. of Existing Outstanding Shares | 1912047618 |
New Shares Issued | 190096000 |
Offer Price | SGD 1.42 |
Total size =14K
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SINGAPORE POST LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: 199201623M) STRATEGIC COLLABORATION WITH ALIBABA GROUP HOLDING LIMITED
- ISSUANCE AND TRANSFER OF 220,096,000 ORDINARY SHARES IN THE CAPITAL OF SINGAPORE POST LIMITED TO ALIBABA INVESTMENT LIMITED
- MEMORANDUM OF UNDERSTANDING IN RELATION TO A STRATEGIC BUSINESS COOPERATION WITH ALIBABA INVESTMENT LIMITED FOR THE CREATION OF AN INTERNATIONAL ECOMMERCE LOGISTICS PLATFORM
Unless otherwise defined all capitalised terms shall bear the same meanings as in Singapore Post Limited's (the "Company") announcements dated 28 May 2014 and 23 June 2014 (the "Announcements").
Further to the Announcements, the Company wishes to announce that it has today received a letter from the Monetary Authority of Singapore (the "MAS") dated 15 July 2014 stating, inter alia, the MAS' approval for the Investor to become a substantial Shareholder of the Company pursuant to Section 13(1) of the Money-changing and Remittance Businesses Act, Chapter 187 of Singapore (the "Approval").
As disclosed by the Company in the Announcements, in addition to the receipt of the Approval, the Proposed Issuance is subject to certain conditions precedent set out in the Investment Agreement, including without limitation, there being no breach of the representations, warranties and undertakings set out in the Investment Agreement and subject to the terms and conditions of the Investment Agreement, the approval of the MAS and the Info-communications Development Authority of Singapore ("IDA") of the Investor's nominee as a director of the Company.
Further announcements will be made after the receipt of the relevant approvals from the MAS and
IDA.
Winston Paul Wong Chi Huang
Joint Company Secretary
17 July 2014
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