Change - Change in Corporate Information::Announcement o...
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Change - Change in Corporate Information::Announcement on Change in Shareholding Interests in Subsidiary and Associated Company
Issuer
Issuer/ ManagerCITY DEVELOPMENTS LIMITED
Announcement Details
Announcement TitleChange - Change in Corporate Information
Date & Time of Broadcast 15-Sep-2016 17:09:30 Status NewAnnouncement Sub Title Announcement on Change in Shareholding Interests in Subsidiary and Associated Company
Announcement Reference SG160915OTHRYB72 Submitted By (Co./ Ind. Name) Enid Ling Peek Fong Designation Company Secretary Description (Please provide a detailed description of the event in the box below)Please refer to the attached announcement on Change in Shareholding Interests in Subsidiary and Associated Company
Place Of Incorporation
Existing NewSingapore
Registered Address
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15/9/2016
CITY DEVELOPMENTS LIMITED (Co. Reg. No. 196300316Z) Announcement on Change in Shareholding Interests in Subsidiary and Associated CompanyThe Board of Directors of City Developments Limited (the "Company") wishes to announce the following changes in the Company's interests in subsidiary and associated company:
Change of Interest in a Subsidiary
Pursuant to a dividend reinvestment plan, CDL Investments New Zealand Limited ("CDLI"), an indirect subsidiary of Millennium & Copthorne Hotels plc, which is in turn a subsidiary of the Company, has on 20 May 2016 allotted 853,649 shares to its shareholders who had elected to receive their dividend in the form of new shares.
Following the issuance of new shares, total number of issued share capital of CDLI is 276,947,325 ordinary shares. The Company's deemed interest by virtue of the provisions of Section 7 of the Companies Act, Chapter 50 in the shares of CDLI, has decreased from 66.91% to 66.70%.
Change in Shareholding Interests in Associated Company
The Company's interest in Zenlion Investments Pte. Ltd. ("Zenlion") through its wholly-owned subsidiary, New Empire Investments Pte. Ltd. ("New Empire") has changed from 50% to 40%.
Zenlion was incorporated in 2013 as a joint venture company for the purpose of tendering for land in Singapore, with its shareholders comprising New Empire, Intrepid Investments Pte. Ltd. ("Intrepid") and TID Residential Pte. Ltd. ("TIDR"), each holding 50%, 30% and 20% respectively in Zenlion. Both Intrepid and TIDR are subsidiaries of Hong Leong Holdings Limited, which is in turn a subsidiary of Hong Leong Investment Holdings Pte. Ltd., the Company's ultimate holding company.
Following TIDR's recent withdrawal from Zenlion through the transfer of all of its shareholding interest to Intrepid, Zenlion allotted additional shares to New Empire and Intrepid, resulting in New Empire and Intrepid each holding 40% and 60% respectively in Zenlion. Zenlion currently does not own any property assets but may continue to be used for the purpose of tendering for land in Singapore.
By Order of the Board
Enid Ling Peek Fong Company Secretary Date: 15 September 2016
CDL - City Developments Ltd. published this content on 15 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 September 2016 09:43:06 UTC.
Original documenthttp://media.corporate-ir.net/media_files/IROL/60/60774/1509_CDL.pdf
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