SINGAPORE: DeClout Limited has acquired 100% of the shareholding interest in PT.Dhost Telekomunikasi Nusantara, an entity incorporated in Indonesia which engages in the neutral hosting business, of which 99% and 1% of the shareholding interest in Dhost are now held through Beaqon Pte. Ltd. and TJ Systems Pte Ltd, the Company’s direct and indirect wholly-owned subsidiaries, respectively.
The Group originally consolidates the performance of Dhost through certain contractual arrangements, and such contractual arrangements have been terminated in conjunction with the acquisition.
Following the acquisition, DeClout will continue to consolidate the performance of Dhost by virtue of its shareholding interest in Dhost. Accordingly, the acquisition is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year ending 31 December 2019.
The aggregate consideration for the acquisition is S$286,000, and is arrived at based on the nominal value of the shares of Dhost. No valuation was carried out on Dhost in connection with the acquisition.