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LC DEV IS NOW A NET CASH COMPANY AFTER SELLING AWAY CROWNE PLAZA HOTEL TO OUE FOR 300million!
The Board of Directors of L.C. Development Ltd (the “
made by the Company on 19 May 2011 and wishes to inform shareholders that its wholly-owned
subsidiary, L.C. Hotels Pte Ltd has today received the approval from Changi Airport Group
(Singapore) Pte Ltd (“
Development Pte Ltd, a wholly-owned subsidiary of Overseas Union Enterprise Limited.
Pursuant to the sale and purchase agreement entered into on 15 April 2011, completion of the sale
will take place on 25 July 2011, being 5 business days following receipt of CAG’s approval (being the
last of the conditions precedent to completion).
krisluke ( Date: 17-Jun-2011 10:46) Posted:
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Co will suffer a loss of $9.2m as the carrying value was $30.4m Proceeds will be used to reduce external borrowings. Net assets are expected to reduce by 0.74c per share due to the divestment. Co has posted most recent quarterly loss of 530k for Mar results.
ly1968 ( Date: 26-Apr-2011 14:40) Posted:
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ly1968 ( Date: 25-Apr-2011 21:52) Posted:
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Kensonic77 ( Date: 16-Apr-2011 21:15) Posted:
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Can hit $8.00 in a few years time?
NTA = 21.13 c (Before sale), 29.89 (after Sale).
EPS for 2010 = -0.18 c (Before sale), 8.58 c
Today top ten.
bsiong ( Date: 06-Apr-2011 09:23) Posted:
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L.C. Development Ltd announced that LC Airport Hotel Pte Ltd, the owner of Crowne Plaza Changi Airport hotel, was informed by Changi Airport Group (Singapore) Pte Ltd, the lessee of the parcel of land on which Crowne Plaza Changi Airport hotel is developed, that it has received conditional approval from the Civil Aviation Authority of Singapore to extend their lease tenure for a parcel of land next to the Crowne Plaza Changi Airport hotel to 30 August 2083. LC Airport Hotel Pte Ltd intends to use that parcel of land to develop a hotel catering to a different guest segment from Crowne Plaza Changi Airport hotel.
/sgx/*
Diversify your portfolio, invest in land and get a handsome return of 15-20%pa in 4 to 5 years.
where is it? http://www.youtube.com/watch?v=kMOvjDJeOuQ Msg(Contact) me here for details.
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L.C. Development Ltd announced that it has been notified by Runway 38 Limited, an indirect wholly-owned subsidiary of LaSalle Asia Opportunity II SARL, of their intention to sell their 50% interest in LC Airport Hotel Pte Ltd, which owns the Crowne Plaza Changi Airport hotel in Singapore . Pursuant to the shareholders’ agreement dated 25 January 2007 entered into between Runway 38 Limited and L.C. Hotels Pte Ltd, the company’s wholly-owned subsidiary, Runway 38 Limited has the right to cause LC Hotels Pte Ltd to sell its 50% interest in LC Airport Pte Ltd to the buyer at the same price, terms and conditions at and on which Runway 38 Limited’s shares are being sold. Runway 38 Limited has notified L.C development that they intend to exercise their drag-along rights, following which L.C. Hotels Pte Ltd would be required to sell their stake in LC Airport Hotel Pte Ltd.
/sgx
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Diversify your portfolio, invest in land and get a handsome return of 15-20%pa in 4 to 5 years.
where is it? http://www.youtube.com/watch?v=kMOvjDJeOuQ Msg (Contact) me here for details.
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