April 11, 2017 / 11:41 AM / 4 months ago

BRIEF-Polaris Ltd announces change of shareholding in subsidiaries

April 11 (Reuters) - Polaris Ltd

* Company has on 11 April 2017 subscribed for 2.5 million new ordinary shares in capital of polaris KKC Holdings Pte. Ltd.

* Aggregate value of consideration for KKC shares is USD1 million in cash based on issue price of USD0.40816 for each KKC share

* Following subscription, co's shareholding in Polaris KKC has increased from 70% to 85.3% of total issued and paid-up share capital of Polaris KKC.

* Subscription are not expected to have any material impact on consolidated earnings per share of company and group for FY ending 31 Dec 2017

* Following subscription, Polaris KKC's shareholding in CM Polaris has increased from 66.7% to 83.7% of issued and paid-up share capital of CM Polaris

* Polaris kkc has on 11 April 2017 subscribed for 3.6 million new ordinary shares in capital of CM Polaris Pte. Ltd

* Aggregate value of consideration for CM shares is USD1 million in cash based on issue price of USD0.27847 for each CM share Source text for Eikon: Further company coverage:

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