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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  CapitaLand Limited    CATL   SG1J27887962

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Capitaland : CL: Participation in Lai Fung Holdings Limited’s Open Offer

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02/27/2012 | 03:19pm CEST
CAPITALAND LIMITED

Regn No.: 198900036N (Incorporated in the Republic of Singapore)

ANNOUNCEMENT PARTICIPATION IN LAI FUNG HOLDINGS LIMITED'S OPEN OFFER

CapitaLand Limited ("CapitaLand") wishes to announce that its wholly-owned subsidiary, CapitaLand LF (Cayman) Holdings Co., Ltd. ("CapitaLand Cayman"), has signed an irrevocable undertaking to subscribe for its full entitlement of 1,610,000,000 offer shares at the subscription price of HK$0.125 (approximately S$0.020) per offer share under Lai Fung Holdings Limited ("Lai Fung")'s 1 for 1 Open Offer (the "Open Offer"), for a cash consideration of HK$201.25 million (approximately S$32.63 million) (the "Subscription"). The Open Offer, which is subject to, inter alia, the shareholders' approval of Lai Fung, is expected to be completed and the offer shares are expected to commence dealing on the Hong Kong Stock Exchange ("HKSE") on 6 June 2012. Please refer to the enclosed announcement by Lai Fung for more information on the Open Offer.
Lai Fung, an investment holding company incorporated in the Cayman Islands, is listed on HKSE. It is principally engaged in property development for sale and property investment in the People's Republic of China.
As of the date of this announcement, CapitaLand Cayman has an interest of 20%, comprising a total of 1,610,000,000 shares of HK$0.10 each in Lai Fung. As Lai Fung's Open Offer is fully underwritten, CapitaLand's interest in Lai Fung will remain unchanged at
20% upon the completion of the Open Offer.
The above Subscription is not expected to have any material impact on the net tangible assets or earnings per share of the CapitaLand Group for the financial year ending 31
December 2012.
None of the Directors or the controlling shareholder of CapitaLand has any interest, direct or indirect, in the above Subscription.
By Order of the Board
Ng Chooi Peng
Assistant Company Secretary
27 February 2012

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Spread / Average Target 12%
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NameTitle
Ming Yan Lim President, Group CEO & Executive Director
Kee Choe Ng Chairman
Cho Pin Lim Group Chief Financial Officer
John Powell Morschel Independent Non-Executive Director
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