Singapore Telecommunications : Disposal of Shares in Telescience Singapore Pte Ltd

Asset Acquisitions and Disposals::Disposal of shares in Telescience Singapore Pte Ltd

Asset Acquisitions and Disposals::Disposal of shares in Telescience Singapore Pte Ltd

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Asset Acquisitions and Disposals 02-Jan-2019 17:38:11

New

Disposal of shares in Telescience Singapore Pte Ltd

SG190102OTHR4P6S

Lim Li Ching (Ms)

Assistant Company Secretary

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http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Announce...

02/01/2019

SINGAPORE TELECOMMUNICATIONS LIMITED

(Incorporated in the Republic of Singapore) Company Registration Number: 199201624D

ANNOUNCEMENT PURSUANT TO RULE 704 OF THE SGX-ST LISTING MANUAL

DISPOSAL OF SHARES IN TELESCIENCE SINGAPORE PTE LTD

Singapore Telecommunications Limited wishes to announce that its indirect subsidiary, SCS Computer Systems Pte. Ltd. ("SCS"), has disposed of its 50% shareholding in Telescience Singapore Pte Ltd ("Telescience") to an existing shareholder of Telescience ("Transaction"). Following the Transaction, Telescience has ceased to be an associated company of SCS.

The aggregate consideration for the Transaction is S$2.05 million in cash. The consideration was arrived at on a willing-buyer willing-seller basis after taking into account various factors including the estimated market value of the net assets owned by Telescience.

The unaudited net assets book value of Telescience as of 30 September 2018 was approximately S$3.52 million.

Issued by Singapore Telecommunications Limited on 2 January 2019.