SingPost acquires additional shares in associated company

The company’s shareholding in GDEX will increase from 27.08% to 27.41%.

Singapore Post Limited announced that it has acquired an additional 2 million ordinary shares in the capital of GD Express Carrier Berhad, an associated company of SingPost whose shares are quoted and traded on the ACE Market of Bursa Malaysia Securities Berhad, from Dato’ Capt. Ahmad Sufian @ Qurnian Bin Abdul Rashid and Essem Capital Sdn Bhd.

The acquisition was made by way of block trades effected on Bursa at a price of RM1.40 for each purchase share, which represents a discount of approximately 1.4% over the weighted average price of RM1.42 per share on Bursa for the period of 3 days preceding the date of the acquisition.

The total consideration of RM2.8 million or approximately S$1.123 million will be satisfied wholly in cash.