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PropNex Strengthens Stronghold As Singapore's Largest Listed Real Estate Agency

BackFeb 20, 2019
Announcement Title General Announcement
Date & Time of Broadcast Feb 20, 2019 18:43
Status New
Announcement Sub Title Strategic Collaboration with Global Alliance Property Pte. Ltd.
Announcement Reference SG190220OTHRB84J
Submitted By (Co./ Ind. Name) Mohamed Ismail s/o Abdul Gafoore
Designation Executive Chairman and CEO
Description (Please provide a detailed description of the event in the box below) The Board of Directors (the "Board") of PropNex Limited (the "Company") wishes to announce that a wholly owned subsidiary of the Company, PropNex Realty Pte. Ltd. ("PropNex Realty") has entered into a Collaboration Agreement with Global Alliance Property Pte. Ltd. ("GAP") whereby GAP will discontinue its real estate agency business and the sales agents of GAP will thereafter have the option to operate under PropNex Realty.

Save for their shareholdings in the Company, none of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the strategic collaboration.

Please refer to the attached press statement dated 20 February 2019 for further details of the strategic collaboration.

UOB Kay Hian Private Limited is the sole issue manager of the initial public offering and listing of PropNex Limited. UOB Kay Hian Private Limited assumes no responsibility for the contents of this announcement.

By Order of the Board

Ismail Gafoore
Executive Chairman and CEO
20 February 2019


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