Enviro-Hub

Enviro-Hub: to lift halt at 8.45am. 51% owned EH Property will acquire F2S1 Investment for an estimated consideration of ~$164.5m (net of debt and other assets). F2S1 holds the PoMo building located at 1 Selegie Road – a 99yr 9-storey retail and office commercial building with 177.4k sf NLA. Its market valuation was $273m as at FY12. As at FY12, F2S1 recorded NTA and book value of approx $116.9m and net profit of $7.4m. Completion is expected to take place on 18 Oct ’13. The acquisition will be funded by EH Property through a combination of internal resources and bank borrowings. The acquisition is in line with Enviro-Hub’s diversification strategy to achieve long term growth, and gives the group further exposure to the property sector.