ACQUISITION OF BARTLEY SITE

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1. Introduction

The Board of Directors of the Top Global Limited (the “Company”) wishes to announce that its 

subsidiary company,   Bartley Homes Pte. Ltd. (“BH”) (the Company,   BH and the Company’s 

subsidiaries are collectively known as the “Group”) has on 31 March 2012 entered into a sale 

and purchase agreement (the “Agreement”) with the   majority of the subsidiary proprietors 

holding not less than 80% of the share values and not less than 80% of strata floor area of the 

strata lots of Bartley Grove Apartment and owners of 25/27/29 Bartley Road (collectively   the 

“Vendors”) to acquire   their   residential   units   en-bloc   (the “Property”)   via a private treaty (the 

“Acquisition”).   The completion of the Agreement is subject to obtaining 100% of the sellers’ 

consent or a sale order by the Strata Titles Board (the “Order”), whichever is earlier, for the 

collective sale.

The aggregate value of the consideration for the Acquisition is S$74.1 million (the “Purchase 

Price”) or   S$810 per square foot per plot ratio (excluding development charge).   The 

consideration is arrived at after arm’s length negotiations and on a willing buyer and willing 

seller basis. 

The Acquisition shall be funded internally and through bank loans. This Acquisition is carried 

out in the ordinary course of the Group’s property investment and development business.

In accordance with the terms of purchase, a 5% deposit less the initial payment and amounting 

to S$3,305,000 is to be paid to the solicitors for the Vendors, Messrs DSPP Law Corporation

(“Vendors’ Solicitors”), as stakeholders. A further sum of 5% of the Purchase Price would be 

paid to the Vendors’ Solicitors within seven days from the Order or 100% sellers’ consent. The 

balance 90% of the Purchase Price shall be payable on completion of the Acquisition.

2. Information on the Property

Bartley Site comprises of Bartley   Grove Apartment, a single block of 25 walk-up apartments 

and adjoining private land of 3 terrace houses situated on a freehold residential site in District 

19, located at 9A-23D Bartley Road and 25/27/29 Bartley Road, Singapore respectively. The 

Property is within walking distance to the Serangoon MRT station – the Circle Line and NorthEast Line Interchange (approximately 600 metres) and Bartley MRT station (approximately 650 

metres).

F& B outlets and a host of amenities are readily available along Upper Serangoon Road, 

including Nex Mall at Serangoon Central, Heartland Mall and Upper Serangoon Shopping 

Centre.

Reputable educational institutions in the vicinity include Maris Stella High School, Cedar 

Primary, St. Andrew’s Junior School and Paya Lebar Methodist Girls School (Primary). Also 

close by are international schools like The Australian International School and the Stamford 

American International School.

INCORPORATION OF AN INDIRECT WHOLLY-OWNED SUBSIDIARY IN SINGAPORE

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The Board of Directors of Top Global Limited (the “Company”, and together with its subsidiaries, the 

“Group”) wishes to announce that the Company’s wholly-owned subsidiary, Global Real Estate 

Investment Pte. Ltd. has incorporated a   wholly-owned subsidiary in Singapore, known as Bartley 

Homes Pte. Ltd..

The initial issued share capital of the subsidiary is S$2.00 and its   principal activity is   that of real 

estate development.

The above transaction is funded through internal resources and is not expected to have any material 

financial impact on the consolidated net tangible assets per share and consolidated earnings per share 

of the Group for the current financial year ending 31 December 2012. 

None of the Directors, Controlling Shareholders or Substantial Shareholders of the Company have 

any interest in the above transaction, save for their interests arising by way of their directorships 

and/or shareholdings, as the case may be, in the Company.

By order of the Board

Hano Maeloa 

Chief Executive Officer and Executive Director

2 April 2012