TELECHOICE INTERNATIONAL LIMITED (REG. NO. 199802072R)
The Board of Directors of TeleChoice International Limited ('Company') wishes to announce that the Company has increased its shareholding in its subsidiary, Planet Telecoms (S) Pte Ltd ('Planet Telecoms') on 1 December 2015, from approximately 92.11% to 100.00%, pursuant to an acquisition of 150,000 existing shares in the capital of Planet Telecoms ('Sale Shares') from a minority shareholder of Planet Telecoms ('Acquisition') for an aggregate consideration of S$304,000.00 ('Consideration').
The Consideration was arrived at based on the book value of Planet Telecoms as reflected in the audited financial statements of Planet Telecoms for the financial year ended 31 December 2014. No person was commissioned to value the Sale Shares. The Consideration was fully paid in cash upon completion of the Acquisition.
The Acquisition will not have any material impact on the consolidated net tangible asset per share or earnings per share of the Company for the financial year ending 31 December 2015.
None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the Acquisition, other than through their shareholding interests in the Company.
By Order of the Board
Lim Shuh Moh Vincent President
1 December 2015
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