CapitaLand arm boosts share capital by 300%

Ascott Holdings N.V's S$1.53m capital is part of its ongoing business development.

In a release, CapitaLand Limited announced that its wholly-owned subsidiary, Ascott Holdings N.V., has increased its issued and paid-up share capital from €250,000 (approximately S$382,300) to €1,000,000 (approximately S$1,529,300) as part of its ongoing business development.

The Share Increase was made by way of an allotment and issue of an additional 7,500 shares of €100 each by AHENV to its sole shareholder, Ascott Holdings (Europe) Pte. Ltd., another wholly-owned subsidiary of CapitaLand, for a cash consideration of €750,000 (approximately S$1,146,900).

Following the Share Increase, AHENV’s issued and paid-up share capital is now €1,000,000 comprising 10,000 shares of €100 each. AHENV remains a wholly-owned subsidiary of CapitaLand.

The Share Increase is not expected to have any material impact on the net tangible assets or earnings per share of CapitaLand Group for the financial year ending 31 December 2012.