ACQUISITIONS AND DISPOSALS :: CHANGES IN COMPANY'S INTEREST :: ACQUISITION OF SHARES IN STORHUB HOLDING PTE. LTD.

 

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Name of Announcer *

HERSING CORPORATION LTD  

Company Registration No.

199706986E  

Announcement submitted on behalf of

HERSING CORPORATION LTD  

Announcement is submitted with respect to *

HERSING CORPORATION LTD  

Announcement is submitted by *

Chua Khee Hak  

Designation *

Director  

Date & Time of Broadcast

23-Apr-2010 17:55:49  

Announcement No.

00144  

 

 

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Announcement Title *

ACQUISITION OF SHARES IN STORHUB HOLDING PTE. LTD.  

Description

The Board of Directors of Hersing Corporation Ltd (the "Company") wishes to announce that further to the Company’s announcement made on 16 April 2010 in relation to the joint venture for expansion of self storage business, the Company has subscribed for and was allotted 38 ordinary shares in the capital of Storhub Holding Pte. Ltd. ("SHPL") for a total cash consideration of S$38.00. This constitutes 38% interest in SHPL.

Subsequently, the 38 ordinary shares in the capital of SHPL were transferred at the same consideration to the Company’s wholly-owned subsidiary, Hersing Store Pte. Ltd. (formerly known as "615 Toa Payoh Pte. Ltd.").

The cash consideration was funded internally and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the financial year ending 31 December 2010.

None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transaction.


By Order of the Board


Chua Khee Hak
Director
23 April 2010  

 

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