SINGAPORE PRESS HOLDINGS LIMITED
(Registration No: 198402868E) (Incorporated in the Republic of Singapore)
ACQUISITION OF AN ASSOCIATED COMPANY
Issued by Singapore Press Holdings Limited
Pursuant to Rule 704(17)(c) of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "SGX-ST Listing Manual"), the Board of Directors of Singapore Press Holdings Limited (the "Company") wishes to announce that Invest Learning Pte Ltd, a wholly-owned subsidiary of the Company, has today acquired 110,000 ordinary shares in MindChamps Preschool (Worldwide) Pte. Limited ("MindChamps Worldwide"), comprising
22% of the issued and paid-up share capital of MindChamps Worldwide, at a consideration of approximately S$12,000,000. The principal activities of MindChamps Worldwide are operating and franchising of early childhood curriculum and enrichment programmes and related investment holdings.
The consideration was arrived at on a willing-buyer, willing-seller basis, taking into account various factors such as the existing assets, intellectual property rights, goodwill, financial position and business prospects of MindChamps Worldwide and its subsidiaries. The consideration was satisfied wholly in cash.
The acquisition is not expected to have a material impact on the net tangible assets or earnings per share of the Company for the financial year ending 31 August 2014.
None of the directors of the Company has any interest, direct or indirect, in the acquisition.
20 August 2014