Acquisition of Interest in the Shares in the Share Capital of the Target Holding Company - Completio
The board of directors (the “Directors”) of mm2 Asia Ltd. (the “Company”, and together with its subsidiaries, the “Group”) refers to the announcements released by the Company on 3 February 2016, 12 May 2016, 31 May 2016, 11 August 2016 and 22 February 2017 (the “Announcements”). Unless otherwise defined, all terms and references used herein shall bear the same meaning ascribed to them in the Announcements.
1. COMPLETION OF PAYMENT OF PURCHASE CONSIDERATION
The Company wishes to inform the shareholders that pursuant to Clause 4.2.4 of the Sale and Purchase Agreement entered between the Vendors and the Company, the Company has on 6 September 2017, made the payment of the outstanding Consideration of S$20 million to the Vendors entirely in cash. The Consideration has therefore been paid in full and no monies are owing to the Vendors.
2. DIRECTORS’ RESPONSIBILITY STATEMENT
The Directors of the Company (including any Director who may have delegated detailed supervision of the preparation of this announcement) collectively and individually accept full responsibility for the accuracy of the information given in this announcement and confirm after making all reasonable enquiries, that to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all material facts about the Acquisition, the Group, and the Directors are not aware of any facts the omission of which would make any statement in this announcement misleading. Where information in the announcement has been extracted from published or otherwise publicly available sources or obtained from a named source, the sole responsibility of the Directors has been to ensure that such information has been accurately and correctly extracted from those sources and/or reproduced in the announcement in its proper form and context.
Shareholders and other investors are reminded to exercise caution when dealing in the securities of the Company and should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers if they are in doubt about the actions that they should take.
By Order of the Board
Melvin Ang Wee Chye
Executive Chairman and Executive Director
6 September 2017