SUBSCRIPTION OF ADDITIONAL ORDINARY SHARES IN DELFI YURAKU PTE LTD
The Board of Directors of Delfi Limited (the "Company") wishes to announce that its joint venture company, Delfi Yuraku Pte Ltd ("Delfi Yuraku") has increased its issued and paid-up capital from USD5,000,010 to USD6,100,010 through the issue and allotment of an additional 1,100,000 ordinary shares of USD1.00 each for a total cash consideration of USD1,100,000 ("Subscription") as set out below:
Name of Joint venture partners | Percentage | Consideration (USD) | |
The Company | 60% | 660,000 | |
Yuraku Confectionery Co., Ltd. | 40% | 440,000 | |
Total | 100% | 1,100,000 |
There is no change in the participating interest of respective shareholders after the subscription of the above additional allotment of shares.
Rationale for the Subscription
The rationale for the Subscription is to finance the working capital of Delfi Yuraku.
Financing and Financial Effects of the Subscription
The Subscription was funded entirely through internal resources and is 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 current financial year ending 31 December 2021.
Interest of Directors and Substantial Shareholders
None of the Directors or Substantial Shareholders of the Company has any interest, direct or indirect, in the Subscription, save for their respective shareholdings in the Company.
By Order of the Board
Chuang Yok Hoa / Siau Kuei Lian
Company Secretaries
14 September 2021
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Delfi Limited published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 09:41:06 UTC.