Award of Tenders for Two Plots of Land Located at Tuas South Street 7 By JTC Corporation

on .

The Board of Directors (the “Board”) of 800 Super Holdings Limited (the “Company”) wishes to announce that JTC Corporation (“JTC”) had on 28 September 2012 (the “Award Date”) awarded the Company two tenders to lease two land parcels, namely Plot 25 and Plot 27 at Tuas South Street 7 (the “Land”) comprising an aggregate area of approximately 10,785.9 square metres, subject to the conditions as set out in the tender documents.

The Company and together with its subsidiaries (the “Group”) intends to use the Land for a Materials Recovery Facility (“MRF”) plant for the recovery of recyclables. The Land will also be utilised as a vehicle depot, for storage of materials and equipments as well as for the maintenance of the Group’s vehicles.

A sum equivalent to approximately 25% of the aggregate tendered sale price of S$9,501,600 for the Land (together with applicable Goods and Services Tax (“GST”)) (“Tendered Sale Price”) shall be payable within 28 days from the Award Date, with the remaining 75% (together with applicable GST) shall be payable within 90 days from the Award Date.

The lease term for the Land shall be for 23 years from the date of full payment of the Tendered Sale Price (the “Lease Term”). The Lease Term shall expire not later than 30 December 2035. The Land lease is subject to, inter alia, development to a minimum gross plot ratio of not less than 0.7 but not more than 1.0.

The Group intends to fund the Tendered Sales Price through the net proceeds from the Group’s initial public offering (“IPO Proceeds”) and its internal resources and/or borrowings. Subsequent to the use of IPO Proceeds for the partial payment of the Tendered Sale Price, the IPO Proceeds will be fully utilised as follows:-

Use of IPO Proceeds  






To expand materials recovery capacity and capacity of vehicle

  2,000   2,000(1)   -

To expand existing fleet of vehicles and equipment, and upgrade
existing facilities

  1,500   1,500   -
General working capital requirements   1,775   1,775   -
IPO expenses   1,371   1,371   -
Total   6,646   6,646   -


(1) Utilised for the Tendered Sale Price

The lease of the Land is not expected to have any material impact on the earnings per share or the net tangible assets per share of the Group for the current financial year ending 30 June 2013.

None of the Directors or controlling shareholders of the Company (other than in their capacity as director or shareholders of the Company) has any interest, direct or indirect, in the above transactions.