GLOBAL LOGISTIC PROPERTIES LTD (Registration No. 200715832Z) (Incorporated in Singapore on August 28, 2007)
NOTIFICATION ON INDIRECT ASSOCIATED COMPANIES AND AN INDIRECT JOINTLY-CONTROLLED ENTITYGlobal Logistic Properties Limited (the "Company") wishes to announce the following:-
A. Acquisition of indirect associated companies
1. GLP Japan Development TMK Holdings Pte. Ltd., an indirect jointly-controlled entity of the Company, has acquired 25% interest in the following companies known as (a) JDV One Special Purpose Company ("JDV1"); (b) JDV Two Special Purpose Company ("JDV2"); (c) JDV Three Special Purpose Company ("JDV3"); (d) JDV Four Special Purpose Company ("JDV4"); and (e) JDV Five Special Purpose Company ("JDV5") (the "Acquisition") for a consideration of JPY25,000 for each company (the "Considerations"). Details relating to the Acquisition are as follows:
Name of company : JDV One Special Purpose Company
Country of Incorporation : Japan
Paid-up Capital : JPY100,000
Principal activities : Property Investment
Name of company : JDV Two Special Purpose Company
Country of Incorporation : Japan
Paid-up Capital : JPY100,000
Principal activities : Property Investment
Name of company : JDV Three Special Purpose Company
Country of Incorporation : Japan
Paid-up Capital : JPY100,000
Principal activities : Property Investment
Name of company : JDV Four Special Purpose Company
Country of Incorporation : Japan
Paid-up Capital : JPY100,000
Principal activities : Property Investment
Name of company : JDV Five Special Purpose Company
Country of Incorporation : Japan
Paid-up Capital : JPY100,000
Principal activities : Property Investment
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The Considerations were arrived at arm's length and a willing buyer, willing seller basis, taking into account the book value of each of the companies at the time of the Acquisition and were funded by internal resources.
As at 30 June 2015, the book value and net tangible asset value of each of the companies was
JPY100,000.
Following the Acquisition, each of JDV1, JDV2, JDV3, JDV4 and JDV5 will become indirect associated companies.
The Acquisition is not expected to have any material impact on the net tangible asset value and earnings per share of the Company for the financial year ending 31 March 2016.
None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the Acquisition, save for their respective interest, through their shareholdings and/or directorships, as the case may be, in the Company.
2. Shiodome (14) Logistic Pte. Ltd., an indirect wholly-owned subsidiary of the Company, has acquired 25% interest in the following companies known as (a) SPSG One Special Purpose Company ("SPSG1"); and (b) SPSG Two Special Purpose Company ("SPSG2") (the "Acquisition") for a consideration of JPY25,000 for each company (the "Considerations"). Details relating to the Acquisition are as follows:
Name of company : SPSG One Special Purpose Company
Country of Incorporation : Japan
Paid-up Capital : JPY100,000
Principal activities : Property Investment
Name of company : SPSG Two Special Purpose Company
Country of Incorporation : Japan
Paid-up Capital : JPY100,000
Principal activities : Property Investment
The Considerations were arrived at arm's length and a willing buyer, willing seller basis, taking into account the book value of each of the companies at the time of the Acquisition and were funded by internal resources.
As at 30 June 2015, the book value and net tangible asset value of each of the companies was
JPY100,000.
Following the Acquisition, each of SPSG1 and SPSG2 will become indirect associated companies. The Acquisition is not expected to have any material impact on the net tangible asset value and
earnings per share of the Company for the financial year ending 31 March 2016.
None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the Acquisition, save for their respective interest, through their shareholdings and/or directorships, as the case may be, in the Company.
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B. Voluntary Liquidation of an Indirect jointly-controlled entity
Kobe Nishi Logistic Special Purpose Company, an indirect jointly-controlled entity incorporated in
Japan ("Kobe Nishi"), has been placed in members' voluntary liquidation.
The voluntary liquidation of Kobe Nishi is not expected to have any material impact on the net tangible assets or earnings per share of the Company for the financial year ending 31 March 2016.
None of the directors or the controlling shareholders of the Company has any interest, direct or indirect, in the voluntary liquidation of Kobe Nishi.
By Order of the Board of
Fang Xie, Heather
Chief Financial Officer
30 June 2015
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