26 January 2006
Further to the announcement of 20 January 2005, the Board of Directors of Singapore Press Holdings Limited (the "Company") wishes to announce that the obligation by its wholly-owned subsidiary, SPH Magazines Pte Ltd ("SPHM") to subscribe for 26 million new shares in the share capital of Traffic Corner Holdings Company Limited ("TCH") under the Subscription Agreement signed between TCH and SPHM on 20 January 2005(the "Agreement") has lapsed as the conditions under the Agreement were not fully satisfied.
However, SPHM’s 49% stake in Traffic Corner Publishing Company Ltd, a subsidiary of TCH remains unchanged.
None of the directors of SPH has any interest, direct or indirect, in this transaction.
Issued by Singapore Press Holdings Limited
Co. Regn. No: 198402868E
Main board listed Singapore Press Holdings Limited is the leading media company in Singapore, in the print, Internet and broadcasting platforms. It publishes 13 newspapers in the four official languages and more than 80 magazine titles. Everyday, 2.8 million individuals, or 88 per cent of the people above 15 years old, read one of the SPH publications. Its Internet Business Unit manages the online editions of SPH’s major newspapers, which enjoy over 100 million pageviews from 6 million unique visitors every month.
SPH also owns a 20% stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8, U and TV Mobile, and a 40% stake in MediaCorp Press Pte Ltd, which publishes free sheet Today. SPH has a 70% stake in UnionWorks which operates two entertainment radio channels, UFM 100.3 FM in Chinese and WKRZ 91.3 FM in English, and owns an 80% stake in SPH MediaBoxOffice Pte Ltd, Singapore´s largest LED network media company.