MINDCHAMPS PreSchool Limited will buy the entire shareholding in MindChamps PreSchool @ Buangkok Private Limited from franchisee Zhao ShuZhen for S$3.2 million.
The mainboard-listed company's wholly owned subsidiary, MindChamps PreSchool Singapore, will purchase the Serangoon childcare centre using a combination of cash from the group's initial public offering proceeds and an acquisition loan. As at Sept 30, 2018, the book value of MPB stood at S$495,130 and its net tangible asset value was S$438,950.
The company said the acquisition is in the ordinary course of expansion of its business, but it is expected to have a positive impact on its consolidated earnings per share and/or net tangible assets per share for FY2019.
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