News and Announcements
DeClout Complete Of The Incorporation Of Play-E TW
- Published July 28, 2016 4:26PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
28th July 2016, DeClout Ltd
The board of directors (the “Board” or “Directors”) of DeClout Limited (the “Company”, and together with its subsidiaries, the “Group”) refers to the Company’s announcements on the proposed increase in shareholding in a subsidiary and acquisition of indirect subsidiaries on 22 July 2016 (“First Announcement”) and 25 July 2016 (collectively, the “Announcements”). Unless otherwise defined herein, all capitalised terms shall have the same meanings ascribed to them in the Announcements.
Completion of the Incorporation of an Indirect Subsidiary, Play-E TW
The Board is pleased to announce that the Target has completed the incorporation of Play-E TW in Singapore as at the date of this announcement, with an issued and paid-up share capital of S$180,000 comprising 100 ordinary shares.
The Target subcribed for 75 ordinary shares of Play-E TW for S$135,000, whereas other independent third parties have subscribed for the balance of 25 ordinary shares of Play-E TW for S$45,000.
Accordingly, as at the date of this announcement, the Target holds 75.0% interests in Play-E TW, and Play-E TW now forms part of the Target Group as an indirect subsidiary of the Company.
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