14-06-2013, 05:59 PM
Now FULLERTON SGD INCOME FUND also divested....
==> BUT they also said "The Company intends to use the proceeds for future investment purposes".
DISPOSAL OF THE FULLERTON SGD INCOME FUND
1. INTRODUCTION
The board of directors (the “Board”) of the Company wishes to announce that the Company has on 10 June 2013 disposed of the Investment (the “Disposal”).
The redemption proceeds of S$10,085,896.20 shall be paid to the Company on 14 June 2013.
3. THE REDEMPTION PRICE AND PROCEEDS
The Investment was disposed of on 10 June 2013, based on the redemption net asset value as at 11 June 2013.
As at 10 June 2013, the book value of the Investment is S$10,178,555.90, thus the deficit of the proceeds over the book value is approximately S$92,659.70.
However, the cost of the investment was an amount of S$10 million, thus the excess of the proceeds over the redemption proceeds is approximately S$85,896.20.
4. RATIONALE FOR THE DISPOSAL AND USE OF PROCEEDS
The Company decided to dispose of the Investment as it is of the view that, based on markettrends, there could be a possible downside risk to the Investment.
The Company intends to use the proceeds for future investment purposes.
5. CHAPTER 10 OF THE LISTING MANUAL
Rule 1006© The consideration compared with the Company’s market capitalisation based on the total number of issued ordinary shares in the capital of the Company
(the “Shares”) excluding treasury shares.
The disposal amount of the Investment is approximately S$[10,085,896.20]
The market capitalisation as at 13 June 2013: Total number of shares: 300,000,000 shares x S$0.22 = S$66,000,000
As the percentage figure pursuant to Rule 1006© is 15.28%, the Disposal will be considered a discloseable transaction for the purposes of Chapter 10 of the Listing Manual.
6. FINANCIAL EFFECTS OF THE INVESTMENT
==> the financial impact of DISPOSAL is consider as ==> (2) Not applicable as the inception date for FSIF was 13 June 2012.
By Order of the Board
Tan Kay Soon Kenneth
Group Executive Director
14 June 2013
==> BUT they also said "The Company intends to use the proceeds for future investment purposes".
DISPOSAL OF THE FULLERTON SGD INCOME FUND
1. INTRODUCTION
The board of directors (the “Board”) of the Company wishes to announce that the Company has on 10 June 2013 disposed of the Investment (the “Disposal”).
The redemption proceeds of S$10,085,896.20 shall be paid to the Company on 14 June 2013.
3. THE REDEMPTION PRICE AND PROCEEDS
The Investment was disposed of on 10 June 2013, based on the redemption net asset value as at 11 June 2013.
As at 10 June 2013, the book value of the Investment is S$10,178,555.90, thus the deficit of the proceeds over the book value is approximately S$92,659.70.
However, the cost of the investment was an amount of S$10 million, thus the excess of the proceeds over the redemption proceeds is approximately S$85,896.20.
4. RATIONALE FOR THE DISPOSAL AND USE OF PROCEEDS
The Company decided to dispose of the Investment as it is of the view that, based on markettrends, there could be a possible downside risk to the Investment.
The Company intends to use the proceeds for future investment purposes.
5. CHAPTER 10 OF THE LISTING MANUAL
Rule 1006© The consideration compared with the Company’s market capitalisation based on the total number of issued ordinary shares in the capital of the Company
(the “Shares”) excluding treasury shares.
The disposal amount of the Investment is approximately S$[10,085,896.20]
The market capitalisation as at 13 June 2013: Total number of shares: 300,000,000 shares x S$0.22 = S$66,000,000
As the percentage figure pursuant to Rule 1006© is 15.28%, the Disposal will be considered a discloseable transaction for the purposes of Chapter 10 of the Listing Manual.
6. FINANCIAL EFFECTS OF THE INVESTMENT
==> the financial impact of DISPOSAL is consider as ==> (2) Not applicable as the inception date for FSIF was 13 June 2012.
By Order of the Board
Tan Kay Soon Kenneth
Group Executive Director
14 June 2013