Global Yellow Pages JV invests in CallmyName Registry

Will end up owning 75% of shares.

In a release, The Board of Directors of Global Yellow Pages Limited announced that the company has entered into a joint venture agreement with Partner One Limited.

The company will invest an amount of S$1,000,000 in CallmyName Registry Pte. Ltd. (CallmyName Registry), a company incorporated in Singapore by subscribing for 30 shares of CallmyName Registry which shall constitute, after issuance, 75% of the issued and outstanding share capital of CallmyName Registry.

Upon completion of the subscription of shares in CallmyName Registry, the issued and outstanding share capital of CallmyName Registry shall be as follows: Global Yellow Pages Limited (75%), Partner One Limited (22.5%) and others (2.5%).

CallmyName Registry has been granted an exclusive license to use CallmyName’s Intellectual Property and Technology to provide the service of enabling alphanumeric names dialing by mobile handsets in the Republic of Singapore. 

Based on the above, the relative figures as computed on the bases set out in Rule 1006 does not exceed 5%, the above transaction therefore constitutes a non-discloseable transaction within the meaning of Rule 1008 of the Listing Manual of the Singapore Exchange Securities 

Trading Limited, and is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the financial year ending 31 March 2014. None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transaction.