SINGAPORE – 20 January 2010 – Teledata (Singapore) Limited 电传数据有限公司 ("Teledata"
or the "Group"), a leading regional IT systems integrator and communications services company,
is looking to acquire investments to expand its business in the region.
The Group has signed a definitive agreement (the "Agreement") for an equity line of credit of
S$35 million (the "Total Commitment") with
GEM Global Yield Fund ("GEM Global") and
GEM
Investment Advisors, Inc. ("GEMIA"). Both are members of the Global Emerging Markets Group
("GEM"), a US$3.4 billion alternative investment group that manages a diverse set of
investment vehicles internationally.
"Now that we have finalised our negotiations with GEM for this equity line of credit, Teledata
will have the flexibility to capitalise on opportunities to further grow our business. Also with
GEM coming onboard as our shareholder in future, we will be able to leverage GEM’s strong
track record in private equity investments," says Mr Christopher Pan, Chairman and CEO of
Teledata.
"We have brought in a new team of industry veterans who are actively exploring strategic
opportunities that are complementary and synergistic with Teledata’s business. Our key focus is
Teledata ready for acquisitions to enhance our products and service offerings, expand our customer base and widen our
geographical footprint in the region. We currently have presence in Singapore, Thailand, China,
Philippines, Indonesia and Vietnam. We are looking at not only enhancing our presence in these
existing countries, but also penetrating new markets in the region," adds Mr Pan.
Just last month, Teledata announced its first M&A – the proposed acquisition of a major stake
in a leading Indonesia-based internet service provider, PT Centrin Online Tbk ("PT Centrin").
"We intend to use part of the proceeds from this credit facility to fund our proposed acquisition
of a 77.7% stake in a leading Indonesia-based internet service provider, PT Centrin Online Tbk,
as well as provide for its working capital and capital expenditure. We are also actively looking
for potential strategic investments and acquisitions which will boost our business in the
region," adds Mr Pan.
S$35 Million Equity Line of Credit
______________________________
The Agreement allows Teledata to request any number of draw downs ("Draw Downs") from
GEM Global for a period of up to 3 years through the delivery of draw down notices ("Draw
Down Notices") issued by Teledata to GEM Global. Pursuant to each Draw Down and subject to
obtaining the requisite shareholder approvals, GEM Global will subscribe for new ordinary
shares in Teledata, at a subscription price equal to 90% of the average closing trade price of
listed shares in Teledata during the 15 consecutive trading days following a Draw Down Notice.
Pursuant to the Agreement, Teledata may draw down up to the maximum amount of the Total
Commitment provided by GEM Global.
Under the Agreement, GEM Global will also be granted warrants (the "Warrants"). Subject to
obtaining the requisite shareholder approvals, the Warrants have a term of 5 years and will
allow GEM Global to subscribe for up to 220 million new ordinary shares in Teledata, at an
exercise price of S$0.095 per ordinary share.
GEM Global will not hold more than 4.9% in aggregate of the outstanding share capital of
Teledata. GEM Global will also not offer, sell or transfer any of its shares in Teledata within 6
months from the allotment of those shares unless the same is made under an applicable
exemption under the Securities and Futures Act.
In connection with the Agreement, Calypso Management Holdings Limited, a substantial
shareholder of the Company, will act as share lender under a share lending agreement with
GEM Global in order to facilitate the Draw Downs by the Company.
About Teledata (Singapore) Limited
Listed on the Main Board of the Singapore Exchange in 1994, Teledata is a leading IT systems
integrator and communications services company, unique for the depth of its capabilities and
the dedication of its people. Its people are experts in communications technology and excel at
delivering customised communications services and solutions to its customers.
Founded in May 1976, Teledata has since grown to become a regional company with offices in 7
countries and customers in 14 countries throughout the Asia Pacific region. The Group’s
clientele range from large enterprises and telecommunication carriers to small enterprises in
varied industries, some of which have been the Group’s customers for over 30 years. To deliver
best-of breed, advanced and flexible solutions, the Group partners with over 50 world-class
technology providers from around the world.
About GEM
Global Emerging Markets Limited, www.gemny.com, was founded in 1991. GEM is a US$3.4
billion investment group having completed 285 transactions in 60 countries. The firm is an
alternative investment group that manages a diverse set of investment vehicles across the world.
GEM’s funds include: CITIC/GEM Fund; VC Bank/GEM Mena Fund; Kinderhook; GEM Global Yield
Fund; GEM India and Banco Pine/GEM Funds.
Contact:
Warren P. Baker, III –
wbaker@gemny.com – The Global Emerging Markets Group (GEM)
News
January 20, 2010
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