The Board of Directors of Silverlake Axis Ltd (“SAL” or the “Group”) wishes to announce that the Group has on 10th February 2017, established a subsidiary, Merimen Technologies (Thailand) Co., Ltd. (“Merimen Thailand”).
Merimen Thailand was incorporated on 10th February 2017 in Thailand with an authorised and paid-up share capital of THB3,000,000 divided into 30,000 shares at a par value of THB100. The principal activity of Merimen Thailand is to provide software-as-a-service platform for insurance claim management and insurance policy underwriting.
The establishment of Merimen Thailand was fully funded by the Group’s internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year ending 30 June 2017.
None of the Directors or Substantial Shareholders of SAL has any interest, directly or indirectly, in the above transaction, save for their interest arising by way of their directorships and/or shareholdings in SAL.
By Order of the Board
Kwong Yong Sin
Group Managing Director
20 February 2017
Download pdf here