Thakral : Announcement pursuant to Listing Rule 706A for 2HFY2021

ASSET ACQUISITIONS AND DISPOSALS::ANNOUNCEMENT PURSUANT TO RULE 706A OF THE SGX- ST LISTING MANUAL

Issuer & Securities

Issuer/ Manager

THAKRAL CORPORATION LTD

Securities

THAKRAL CORPORATION LTD - SG1AJ2000005 - AWI

Stapled Security

No

Announcement Details

Announcement Title

Asset Acquisitions and Disposals

Date &Time of Broadcast

24-Feb-2022 17:24:41

Status

New

Announcement Sub Title

Announcement Pursuant to Rule 706A of the SGX-ST Listing Manual

Announcement Reference

SG220224OTHRGBS6

Submitted By (Co./ Ind. Name)

Anil Daryanani

Designation

Chief Financial Offcer

Description (Please provide a detailed description of the event in the box below)

Please refer to the attached announcement pursuant to Rule 706A of the SGX-ST Listing Manual in relation to the changes in interests in the Company's subsidiaries and associated companies.

Attachments

ThakralCorp_Annmt_706A_2HFY2021_20220224.pdf

Total size =29K MB

THAKRAL CORPORATION LTD

(Incorporated in the Republic of Singapore on 7 October 1993)

(Company Registration No. 199306606E)

ANNOUNCEMENT PURSUANT TO LISTING RULE 706A

FOR THE SIX MONTHS ENDED 31 DECEMBER 2021

Pursuant to Rule 706A of the Listing Manual of Singapore Exchange Securities Trading Limited, the Board of Directors of Thakral Corporation Ltd (the "Company", and together with its subsidiaries, the "Group") wishes to announce the following changes which occurred during the six months ended 31 December 2021:

1. Establishment of joint venture entities in Australia
   (a) GemLife Over-50s Lifestyle Resorts

The following additional entities have been jointly established under the Group's joint venture through TCAP Partners Pty Ltd (a subsidiary of the Company) with PVAP Pty Ltd for resort-style retirement living housing in Australia:

				Issued and paid-up			Date of
	Name					Incorporation/
			capital
						Establishment
	GTH Resorts No. 22 Pty Ltd		A$2,000 divided into
				2,000 ordinary shares
	GTH Resorts No. 23 Pty Ltd		A$2,000 divided into		21 July 2021
				2,000 ordinary shares
	GTH Resorts No. 24 Pty Ltd		A$2,000 divided into
				2,000 ordinary shares
	GTH Resorts No 21 Unit Trust		A$2,000 divided into
				2,000 units
	GTH Resorts No. 22 Unit Trust		A$2,000 divided into
				2,000 units		16 August 2021
	GTH Resorts No. 23 Unit Trust		A$2,000 divided into
				2,000 units
	GTH Resorts No. 24 Unit Trust		A$2,000 divided into
				2,000 units

The establishment of the above joint venture entities (the "GTH JV Entities") is for the purpose of acquiring land and developing resort-style retirement living housing in Australia. The GTH JV Entities were funded through contributions from the joint venturers.

(b) Parkridge Noosa Project

The following entity has been jointly established by the Group's wholly- owned subsidiary, TCAP Aust Holdings Pty Ltd ("TCAPAH") with entities controlled by the developer of the Group's Parkridge Noosa project in Queensland, Australia:

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Thakral Corporation Ltd

Company Registration No. 199306606E

Announcement - Listing Rule 706A 2HFY2021

				Issued and paid-up			Date of
	Name					Incorporation/
			capital
						Establishment
	PKAT Noosa Pty Ltd ("PKAT")		A$120 divided into 120		17 September 2021
		ordinary shares

PKAT has been established for the purpose of operating a new restaurant at the site of the Parkridge Noosa project.

TCAPAH holds 50% of issued and paid-up capital of PKAT and the remaining 50% of the capital is held by entities controlled by the developer of the Parkridge Noosa project.

The establishment of the GTH JV Entities and PKAT are not expected to have any material impact on the consolidated net tangible assets per share and consolidated earnings per share of the Group for the financial year ended 31 December 2021.

1. Voluntary de-registration of dormant subsidiary in Hong Kong
   Motion Tech Limited, a dormant indirect wholly-owned subsidiary of the Company incorporated in Hong Kong, has been de-registered on 12 November 2021.

The voluntary de-registration of the above dormant subsidiary does not have any material effect on the net tangible assets and earnings per share of the Group for the financial year ended 31 December 2021.

None of the directors or the controlling shareholders of the Company has any interest, direct or indirect (other than through their shareholdings in the Company), in the establishment of the GTH JV Entities and PKAT and the voluntary de-registration of the above dormant subsidiary.

On behalf of the Board

Natarajan Subramaniam

Independent Non-Executive Chairman and Lead Independent Director

Singapore, 24 February 2022

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