News Release

Announcement of Acquisitions And Realisations Of Assets


The Board of Directors of Banyan Tree Holdings Limited ("the Company") wishes to announce that the Company's wholly-owned subsidiary, Banyan Tree Properties Pte. Ltd., has entered into an agreement with the Company's 30% associated company, Banyan Tree Seychelles Holdings Limited ("BTSH") to acquire 2 ordinary shares of US$1.00 each fully paid ("JIL shares") in Jayanne International Limited ("JIL") (such acquisition hereinafter called "the Acquisition").

After the Acquisition, JIL became a wholly-owned indirect subsidiary of the Company

JIL, a company incorporated in the British Virgin Islands, is the holding company of Jayanne (Seychelles) Limited ("JSL"), a company incorporated in Seychelles. JSL owns a double pool villa built on a parcel of land of approximately 1250 square metres situate at Intendance, Mahe, Seychelles.

The total consideration for the Acquisition is US$900,000.00, payable in cash on completion, and was arrived at on a willing-buyer willing-seller basis taking into account the net asset value of the JIL shares in the unaudited financial statements of BTSH as at 27 December 2006

  • By Order of the Board
  • Jane Teah
  • Group Company Secretary
  • 9 January 2007

  • DBS Bank Ltd and UBS AG, acting through its business group, UBS Investment Bank, were the joint global co-ordinators and bookrunners of the initial public offering of the shares in Banyan Tree Holdings Limited.

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