Brief: CSC Holdings updates on joint venture with Triplestar Properties and Zillion Holding

CSC Holdings

14/09/2017 11:06

Sept 14 (Reuters) - Csc Holdings Ltd  CSCH.SI  
    * Refers to joint venture with Triplestar Properties and 
Zillion Holding 
    * CSREI, TSP and ZH entered into a deed of revocation to 
revoke existing shareholders' agreement 
    * Parties agreed to terminate all existing rights and 
obligations amongst CSREI, TSP and ZH 
    * Concurrently with revocation, ZH has transferred its 20 
pct equity interest in jv company to Bluecrest Holding 
    * Following share subscription, equity interest of CSREI in 
jv company shall be diluted from 40 pct to 19 pct 
    * As per terms of revised shareholders' agreement, WB to 
subscribe for 5.5 million shares of jv co for 5.5 million RGT 
    * Dilution not expected to have material impact on earnings 
per share for financial year ending March 31, 2018 
    * Under revised shareholders agreement, amount of 
shareholders' loan to be advanced by CSREI is 1.9 million RGT 
 
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