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8I HOLDINGS LTD — Capital/Financing Update 2017
May 14, 2017
64264_rns_2017-05-14_1bbfe804-25d7-492a-ae51-d7838718a6f9.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT / MEDIA RELEASE
For Immediate Release
8I Holdings Ltd (ASX: 8IH)
Restructuring, Proposed Spin-out and Listing of Education Subsidiary on SGX-ST Catalist
15 May 2017, Singapore
8I Holdings Limited (ASX: 8IH ) (“ 8IH ” or the “Company”) is pleased to announce that the Company has appointed professionals to prepare the Education subsidiary for listing on the Catalist board of the SGX-ST (“ Proposed Listing ”).
A corporate restructuring of the Company is expected for the Education subsidiary ahead of the Proposed Listing. Shareholders and potential investors of the Company should be aware that the Proposed Listing is in its preliminary stages and is dependent on, inter alia , the results of the preparatory work to be undertaken, requisite approvals from the relevant regulatory authorities, compliance with the Catalist Rules, ASX Listing Rules and the then-prevailing market conditions. This process is anticipated to take between seven to ten months. Accordingly, there is no assurance that the Proposed Listing will materialize in due course, or that all of the assets of the existing Education business will be spun out.
Shareholders and potential investors of the Company are advised to exercise caution when making investment decisions in respect to the shares of the Company.
8IH has the intention to raise funds to finance the Education business expansion in Asia, to be effected through physical offices growth, talent recruitment and management, technology application and the potential acquisitions of complementary businesses in various countries. The Proposed Listing will facilitate the expansion plans of the Education business without the need to rely on the Company’s internal resources to fund such further development, whilst enabling the key management personnel of the Company to primarily focus its financial resources on the Company’s expanding Public Markets Investment and Private Markets Investment business segments.
8IH intends to retain controlling equity interest in the Education subsidiary and the board considers that the spin-out of this business line will enable the Company to unlock and increase value for 8IH shareholders by increasing its overall financial capacity and access the capital markets for debt and equity funding via separate listed entities in the ASX and the SGX-ST.
Further information and announcement(s) regarding the corporate restructure proposals will be made by 8IH in due course.
ENDS
For further information, please email [email protected]
Media Enquiries:
Louis Chua Goh Yi Lin Company Secretary (Australia) Investor Relations 8I Holdings Ltd 8I Holdings Ltd +65 6225 8480 ext. 114 +65 6225 8480 ext. 116 [email protected] [email protected]
About 8I Holdings Limited
With offices in Singapore, Kuala Lumpur and Shanghai, 8I Holdings Limited (www.8iholdings.com) is an investment holding company focused on investing in public listed companies and private businesses based on the principles of value investing. Through 8I Education, it is also one of the leading financial education and training providers in Singapore and Malaysia, supporting its participants to build a foundation of value investing knowledge and methodology.