| Description |
The Board of Directors of Jackspeed Corporation Limited (the "Company") wishes to announce that the Company had on 1 November 2004 acquired the remaining 20% of the total issued capital in Jackspeed Leather Manufacture (Thailand) Co. Ltd (comprising 40,000 shares of THB100 each) at a consideration of THB2,170,000 (equivalent to approximately S$90,000).
Jackspeed Leather Manufacture (Thailand) Co. Ltd became a wholly-owned subsidiary of the Company following the Company's acquisition of its shares.
The above transaction is not expected to have significant impact on the net tangible assets of the Company or any material impact on the earnings of the Company for the financial year ending 29 February 2005.
None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transaction.
|
|