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A M A R Q U E A B O V E T H E R E S T 60 E U R O S P O R T S G L O B A L L I M I T E D 61
2 0 1 4 A N N U A L R E P O R T
31 March 2014 31 March 2014
NOTES TO THE NOTES TO THE
F INANCI AL STATEMENTS F INANCI AL STATEMENTS
1. General (Cont’d)
1.2. The Restructuring Exercise (Cont’d)
(d) Acquisition of Spania GTA Asia Pacific Private Ltd. and deLaCour Asia Pacific Pte. Ltd.
On29November 2013, theCompanyentered intoa saleandpurchaseagreementwithEuroAutomobile
Pte. Ltd. pursuant to which the Company acquired the entire issued and paid-up capital of each of
Spania GTA Asia Pacific Private Ltd. and deLaCour Asia Pacific Pte. Ltd. at a nominal consideration of
GPS FBDI PG 4QBOJB (5" "TJB 1BDJmD 1SJWBUF -UE BOE EF-B$PVS "TJB 1BDJmD 1UF -UE
Upon completion of the aforesaid acquisition, each of Spania GTA Asia Pacific Private Ltd. and
deLaCour Asia Pacific Pte. Ltd. became wholly-owned subsidiaries of the Company.
(e) Acquisition of EuroSports Auto Pte Ltd (“EuroSports Auto”)
On 29 November 2013, the Company entered into a sale and purchase agreement with Goh Kim San
and Goh Kim Hup pursuant to which the Company acquired the entire issued and paid-up capital of
&VSP4QPSUT "VUP BU B DPOTJEFSBUJPO PG UIF iEuroSports Purchase Consideration”), which
was determined based on the audited Net Tangible Asset of EuroSports Auto as at 31 March 2013.
The EuroSports Purchase Consideration was satisfied by the allotment and issue of an aggregate of
224,999,996 Shares, credited as fully paid in the following manner:
Name of allottee Number of shares issued to such allottee
Goh Kim San 134,999,998
Goh Kim Hup 89,999,998
Total 224,999,996
Upon completion of the aforesaid acquisition, EuroSports Auto became a wholly-owned subsidiary
of the Company.
(f) Acquisition of EuroAutomobile Pte. Ltd. (“EuroAutomobile”)
On 29 November 2013, the Company entered into a sale and purchase agreement with Goh Kim San
and Goh Kim Hup pursuant to which the Company acquired the entire issued and paid-up capital of
&VSP"VUPNPCJMF BU B OPNJOBM DPOTJEFSBUJPO PG XIJDI XBT TBUJTmFE CZ UIF BMMPUNFOU BOE JTTVF
of one (1) share, credited as fully paid, to each of Goh Kim San and Goh Kim Hup.
Upon completion of the aforesaid acquisition, EuroAutomobile became a wholly-owned subsidiary
of the Company.
1. General
1.1. The Company
The Company is incorporated in Singapore with limited liability. The financial statements are presented in
Singapore dollars.
The Company changed its name to EuroSports Global Limited upon its conversion to a public company on
5 December 2013.
On 17 January 2014, the Company was listed on the Catalist Board of the SGX-ST.
The Board of Directors approved and authorised these financial statements for issue on the date of the
Statement by Directors.
The principal activities of the Company are those of an investment holding company and the provision of
management services. The principal activities of the subsidiaries are disclosed in Note 13 to the financial
statements.
The registered office and principal place of business is at 30 Teban Gardens Crescent Singapore 608927.
1.2. The Restructuring Exercise
The Group was formed through a restructuring exercise (the “Restructuring Exercise”) which involved a
series of acquisitions and the rationalisation of the corporate and shareholding structure for the purposes
of the Company’s listing on Catalist Board of the SGX-ST. Pursuant to the Restructuring Exercise, the
Company became the holding company of the Group.
The Restructuring Exercise involved the following steps:
(a) Incorporation of the Company
The Company was incorporated on 12 December 2012 in the Republic of Singapore in accordance
with the Companies Act as a private limited company with an issued and paid-up share capital of
DPNQSJTJOH UXP TIBSFT FBDI IFME CZ (PI ,JN 4BO BOE (PI ,JN )VQ
(b) Incorporation of Spania GTA Asia Pacific Private Ltd.
Spania GTAAsia Pacific Private Ltd. was incorporated on 10 October 2012 in the Republic of Singapore
in accordance with the Companies Act as a private limited company with an issued and paid-up share
DBQJUBM PG DPNQSJTJOH POF PSEJOBSZ TIBSF XIJDI XBT XIPMMZ PXOFE CZ &VSP"VUPNPCJMF 1UF
Ltd.
(c) Incorporation of deLaCour Asia Pacific Pte. Ltd.
deLaCour Asia Pacific Pte. Ltd. was incorporated on 5 November 2012 in the Republic of Singapore
in accordance with the Companies Act as a private limited company with an issued and paid-up share
DBQJUBM PG DPNQSJTJOH POF PSEJOBSZ TIBSF XIJDI XBT XIPMMZ PXOFE CZ &VSP"VUPNPCJMF 1UF
Ltd.