GK Goh and Boardroom sell stakes in NewReg

GK Goh and Boardroom sell stakes in NewReg

By Mok Fei Fei

SINGAPORE : Two mainboard-listed firms here, GK Goh and Boardroom Limited, are selling their stakes in an Australian business called NewReg.

A provider of professional business services, Boardroom is selling its 33.3 per cent stake in NewReg for A$14.4 million or about S$18 million.

GK Goh, meanwhile, said its subsidiary Solanum Investment will dispose of its entire 16.67 per cent interest in NewReg for A$7.2 million or some S$9 million.

The stakes are being sold to Australia-based share registry and financial services provider, Link Market Services.

Boardroom, which is realising a gain of S$11.9 million, is one-third owned by GK Goh.

GK Goh will make a direct gain of S$5.6 million from Solanum’s divestment and take a share of the gain from Boardroom’s deal, amounting to S$3.9 million. - CNA/ms

Source : Channel NewsAsia - 23 December 2009

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