/ . 6 2
E U R O S P O R T S G L O B A L L I M I T E D
Notes to
the F iNaNci al statemeNts
3 1 ma r ch 2 0 1 5
1 .
gene r a l ( Con t ’ d )
1 . 2 . The Re s t r uc t u r i ng E xe r c i s e ( Con t ’ d )
(d)
acquisition of Spania gTa asia Pacific Private Ltd. and deLaCour asia Pacific Pte. Ltd.
On 29 November 2013, the Company entered into a sale and purchase agreement with EuroAutomobile 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 $1.00 for each of Spania
GTA Asia Pacific Private Ltd. and deLaCour Asia Pacific Pte. Ltd.
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 EuroSports Auto at
a consideration of S$7,953,000 (the “
EuroSports 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 EuroAutomobile at
a nominal consideration of $2.00 which was satisfied by the allotment and issue 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.
