Ten Alps disposes of its Asian Publishing Assets

Ten Alps Plc, the factual media group, today announces the disposal of its majority stake in Ten Alps Communication Asia Pte Limited (TACA) for proceeds of approximately £600,000 (c S$1.2m), in cash as part of its strategy to divest non-core assets and concentrate on its key UK market. The Company has also disposed of its intermediary holding company Ten Alps Asia Holdings Pte Limited (TAAH) as part of the same transaction. The purchaser of its entire 65% holding in the Singapore based publishing unit is the minority shareholder and CEO Raymond Wong who has bought the holding via Karay Holdings Pte Limited. There are no further payments due from the disposal.

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