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CapitaLand's wholly owned subsidiaries increase issued and paid-up share capital
CAPITALAND Limited announced on Wednesday that its wholly owned subsidiaries, C31 Ventures Fund 1 Pte Ltd (C31VF1) and C31VF1-065C Pte Ltd (065C), have increased their respective issued and paid-up share capital.
This was by way of an allotment of additional redeemable preference shares (RPS) for cash consideration to their existing shareholders.
The number of RPS is three million with a cash consideration of S$3 million for each subsidiary.
"The proceeds of the equity injection will be used to fund the general working capital requirements and investment activities of C31VF1 and 065C, respectively," CapitaLand said.
Following the share increase, C31VF1's issued and paid-up share capital is about S$11.2 million comprising one ordinary share and 11.2 million RPS; and 065C's issued and paid-up share capital is about S$8.4 million comprising one ordinary share and 8.4 million RPS.
C31VF1 and 065C remain wholly owned subsidiaries of CapitaLand.
CapitaLand said that this is not expected to have any material impact on the net tangible assets or earnings per share of the group for the financial year ending Dec 31, 2017.