Loqus Holdings plc – Re-organisation of Subsidiaries

Loqus Holdings plc announced that, as part of a re-organisation exercise aimed at streamlining operations, its subsidiary Loqus Services Ltd shall, following an intra-group share transfer, become the sole shareholder of another subsidiary company, namely Loqus Fleet Limited.

Following the said share transfer, Loqus Services Ltd and Loqus Fleet Limited are to be amalgamated by virtue of a merger by acquisition. Upon the proposed merger by acquisition taking effect, Loqus Services Ltd, as the acquiring company, shall succeed to all the assets, rights, liabilities and obligations of Loqus Fleet Limited, which, in turn, shall cease to exist. The proposed merger by acquisition shall not have any effect on the Company’s shareholding in Loqus Services Ltd and the Company shall continue to hold the totality of the Ordinary shares issued in Loqus Services Ltd, with the exception of one share which is held by another group company.

The Company will keep the market informed of developments in respect of the foregoing, specifically upon the aforementioned merger becoming effective in terms of law.

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