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SPH raises stake in unit - Dec 09, 2006 (ST)

BackDec 09, 2006

The Straits Times / The Business Times News On SPH

SPH raises stake in unit




Dec 09, 2006
The Straits Times

SINGAPORE Press Holdings (SPH) yesterday said it has raised its shareholding in a subsidiary, SPH UnionWorks, from 70 per cent to 80 per cent.

The remaining 20 per cent is held by NTUC Media Co-operative.

SPH's shares in SPH UnionWorks - which owns and operates Radio 91.3 FM and Radio 100.3 - are held through SPH MultiMedia.

The increased stake was the result of the issue of 500,000 shares by SPH UnionWorks to SPH MultiMedia for $250,000.

This figure is arrived at based on the net assets per share of SPH UnionWorks.