COMFORTDELGRO CORPORATION LIMITED
(Company Registration No. 200300002K)
(Registered in the Republic of Singapore)
NOTICE FOR SALE OF ASSETS IN LONDON
ComfortDelGro Corporation Limited (the “Accompaniment“) would like to announce the following transaction:
The Company’s wholly-owned but indirect subsidiaries, Computer Cab plc (“CCPL”) and Flightlink International Limited (“FIL”) have entered into sales and transfer agreements with Addison Lee Limited on June 16, 2021 their identified assets for the provision of taxi and chauffeur services in London (“Identified Assets”) for a total price of £ 3 million, approximately S $ 5,616,768 (the “Transaction”) as part of a strategic review. The CCPL and FIL are wholly owned subsidiaries of the UK incorporated CityFleet Networks Limited (CFN) which is a wholly owned subsidiary of the company. The identified assets also include some CFN assets that are solely related to the London services.
The total consideration is calculated on the basis of the “willing buyer, will seller” taking into account, among other things, the book value and the net asset value of the identified assets of CFN, CCPL and FIL.
Each of the parties to the Transaction will endeavor to complete the transfer of the Identified Assets as soon as possible and this is expected to be approximately 20 business days from the date of the Agreement.
The Transaction will have no material effect on the Company’s net assets or earnings per share for the year ended December 31, 2021 and none of the Directors or material shareholders of the Company have any direct or indirect interests in the Transaction other than their respective interests, depending on the case through their participation and / or their mandate on the board of directors in the company.
ON ORDER OF THE MANAGEMENT BOARD
COMFORTDELGRO CORPORATION LIMITED
Angeline Joyce Lee Siang Pohr
Company secretary
June 17, 2021
Disclaimer of liability
ComfortDelGro Corporation Ltd. published this content on June 17, 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unchanged, on June 17, 2021 11:07:02 AM UTC.
