FINANCIAL EFFECTS OF THE TRANSACTION. The increase in paid up capital of AMSM and the Transactions will be funded from the proceeds of the rights issue completed in October 2010. The Transactions are not expected to have any material impact on the earning or net tangible assets value of the Company and the Group for the current financial year ending 31 December 2011.
FINANCIAL EFFECTS OF THE TRANSACTION. 6.1 As the New Company has not been incorporated and the Contribution Amount has not yet been determined, the financial effects presented in this paragraph 6 are based on the disposal of the Land and the Above-Ground Structures. It is expected that the value of the Equity Interest will be similar to the aggregate of the value of the Land and the Above-Ground Structures and the Contribution Amount as the New Company, which will be newly formed, will not have any other assets or liabilities.
FINANCIAL EFFECTS OF THE TRANSACTION. In compliance with the Company’s accounting policies and based on the unaudited proforma management accounts of Scantrans, the Subscription and Acquisition will give rise to a goodwill of approximately S$2.27 million. This is based on the assumption that the subscription and acquisition was completed on 31 December 2006. Purely for illustrative purposes only and assuming the Subscription and Acquisition had been completed on 31 December 2006, goodwill on the subscription and acquisition is as follows :- Cost of Investment (S$’000) 3,180 Less: Net assets acquired (S’000) 907 Goodwill on Subscription and Acquisition (S$’000) 2,273
FINANCIAL EFFECTS OF THE TRANSACTION. Since Xi’an Mao On controls the majority of the board of directors of the Project Company, and the voting rights in the shareholders’ meeting of the Project Company, the Project Company shall become a subsidiary of Xi’an Mao On. As a result, the financial results, assets and liabilities of the Project Company shall be consolidated into the accounts of the Group.
FINANCIAL EFFECTS OF THE TRANSACTION. Since Shenzhen Merchants controls the majority of the board of directors of the JV Company, and the voting rights in the shareholders’ meeting of the JV Company, the JV Company shall become a subsidiary of Shenzhen Merchants. As a result, the financial results, assets and liabilities of the JV Company shall be consolidated into the accounts of the Group.
FINANCIAL EFFECTS OF THE TRANSACTION. OUE expects to fund the Aggregate Consideration for the Transaction from its available cash resources. The Transaction is not expected to have a material effect on: the consolidated net tangible assets (“NTA”) per share of OUE Group as of 31 December 2020 (being the most recently completed financial year end of the OUE Group), assuming that the Transaction had been completed as of such date; and the consolidated earnings per share of OUE Group for the financial year ended 31 December 2020 (being the most recently completed financial year end of the OUE Group), assuming that the Transaction had been completed as of 1 January 2020.
FINANCIAL EFFECTS OF THE TRANSACTION. 6.1 The financial effects presented below are based on the value of the 635 Mu Land and the properties thereon and do not take into account the value of 10 Mu Land and the Development Land as each of the sale of the 10 Mu Land and the Development Land is a separate transaction from the sale of the 635 Mu Land (the "635 Mu Land Sale"), and has been included in the Equity Transfer Agreement solely to facilitate completion of the sale. As set out in paragraph 1.2 above, the sale of the 10 Mu Land was not previously announced as it was a non-discloseable transaction under Chapter 10 of the Listing Manual.
FINANCIAL EFFECTS OF THE TRANSACTION. 7.1 The excess of the net proceeds from the exercise of the Put Option (after taking into account transaction costs and estimated income tax) over the book value of the Land and Property, based on the Exercise Price, is equivalent to approximately S$27,377,000. The Company intends to utilise the proceeds for re-investment into the core education businesses of the Group, as stated in paragraph 3 above.
FINANCIAL EFFECTS OF THE TRANSACTION. The Transaction does not have material effects on the share capital and substantial shareholdings, net assets per share, earnings and gearing of the Company.
FINANCIAL EFFECTS OF THE TRANSACTION. The financial effects of the Transaction on the Group, shown for illustrative purposes only and not necessarily reflecting the exact future financial position and performance of the Group immediately after completion of the Transaction, have been calculated using the latest audited consolidated financial statements of the Group for the financial year ended 31 March 2021 and assuming that 80% of the issued and paid up share capital of mm Connect is sold to the Purchaser under the Transaction.
