Tuesday, November 27, 2007

BVI-registered Kenton Assets Limited acquired by subsidiary of Fraser and Neave Limited

Fraser and Neave Limited Group has announced that its subsidiary Asia Pacific Investment Pte Ltd acquired the entire issued share capital of British Virgin Islands-registered Kenton Assets Limited, for the purpose of investment holding. The company was purchased for US$1, which is the paid-up capital of the BVI company.

It is reported that none of the directors or controlling shareholders of Fraser and Neave, Ltd. has any interest, either direct or indirect, in the acquisition. Also, the acquisition is not expected to have a material effect on the net tangible assets per share or earnings per share of the Group for the current financial year.