Reference is made to our announcement dated 11 September 2019 (“Announcement”). Unless otherwise defined, the abbreviations and definitions used in the Announcement made by the Company shall apply herein. 

The Company wishes to announce that the Share Subscription Agreement has been completed on 23 December 2019.

Accordingly, Teleport Everywhere Pte. Ltd. (an indirect wholly-owned subsidiary of the Company) holds 469,000 ordinary shares (equivalent to 67% shareholding) in Teleport Commerce In Private Limited (previously known as RC Red Cargo Services Private Limited). 

Teleport Commerce In Private Limited is now an indirect subsidiary of the Company. 

This announcement is dated 24 December 2019.