Singapore Press Holdings Limited ("SPH") wishes to announce that with effect from 8 December 2006, its shareholding in a subsidiary, SPH UnionWorks Pte Ltd (“SPH UnionWorks”), has been increased from 70% to 80% or 1,200,000 shares. SPH’s shares in SPH Unionworks are held through another subsidiary, SPH MultiMedia Pte Ltd ("SPH Multimedia"). The increase is a result of the issue of 500,000 shares by SPH UnionWorks to SPH MultiMedia for a consideration of S$250,000, arrived at based on the net assets per share of SPH UnionWorks.
The remaining 20% in SPH UnionWorks is held by NTUC Media Co-operative Ltd.
SPH UnionWorks owns and operates two radio stations, Radio 91.3 FM and Radio 100.3.
The transaction has no material impact on the earnings per share or the net assets per share of SPH for the financial year ending 31 August 2007.
None of the Directors of SPH has any interest, direct or indirect, in the transaction.
Issued by : Singapore Press Holdings Limited
8 December 2006