| Miscellaneous | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | FRASER AND NEAVE, LIMITED |
| Company Registration No. | 189800001R |
| Announcement submitted on behalf of | FRASER AND NEAVE, LIMITED |
| Announcement is submitted with respect to * | FRASER AND NEAVE, LIMITED |
| Announcement is submitted by * | Anthony Cheong Fook Seng |
| Designation * | Group Company Secretary |
| Date & Time of Broacast | 15-May-2012 22:31:02 |
| Announcement No. | 00220 |
| Price Sensitivity | No |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Announcement Title * | Award of Tender |
| Description | Further to the announcement made on 30 April 2012, Fraser and Neave, Limited ("F&N") is pleased to announce that the tender by Gemshine Investments (S) Pte. Ltd. ("Gemshine"), a joint venture company formed between Frasers Centrepoint Limited ("FCL"), through its wholly-owned subsidiary, FCL Centrepoint Pte. Ltd., and APF 1 S.a.r.l, through Lexis 88 Investments (Mauritius) Ltd, for the 5 special purpose companies holding all the strata units in Compass Point (the "Property") at the price of S$519 million (the "Acquisition") has been accepted. In coming to an agreement with APF 1 S.a.r.l in respect of the tender price, FCL took into account, among other things, the expected income which the Property is likely to generate. FCL's interest in the Property on completion of the Acquisition, which is in the ordinary course of business of FCL, is 18.99% and is not expected to have a material effect on the net tangible assets per share or earnings per share of the F&N group. Upon the redemption of the junior bonds issued by Sengkang Mall Limited ("SML") and the preference shares attached thereto, expected to take place in November 2012, it is envisaged that FCL's interest in the proceeds thereof, held through Gemshine, will result in an exceptional gain (before taking into account expenses to be incurred by SML in respect of the redemption process) of approximately S$35 million to the F&N group. Anthony Cheong Group Company Secretary 15 May 2012 |
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