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23 Jan 09 - (I) Proposed disposal by Red White & Pure Pte. Ltd. of its business and assets; and (II) Proposed subscription of 12.86 percent of the enlarged issued share capital of Sanctuary Spa Group Pte. Ltd

(I) Proposed disposal by Red White & Pure Pte. Ltd. of its business and assets; and (II) Proposed subscription of 12.86 percent of the enlarged issued share capital of Sanctuary Spa Group Pte. Ltd.

* Asterisks denote mandatory information

Name of Announcer *	EU YAN SANG INTERNATIONAL LTD
Company Registration No.	199302179H
Announcement submitted on behalf of	EU YAN SANG INTERNATIONAL LTD
Announcement is submitted with respect to *	EU YAN SANG INTERNATIONAL LTD
Announcement is submitted by *	Danny Heng Hang Siong
Designation *	Chief Financial Officer & Company Secretary
Date & Time of Broadcast	23-Jan-2009 17:01:53
Announcement No.	00068

Announcement Details

PART I

Announcement Title *	(1) PROPOSED DISPOSAL (THE “DISPOSAL”) BY RED WHITE & PURE PTE. LTD. ("RWP"), A WHOLLY-OWNED SUBSIDIARY OF EU YAN SANG INTERNATIONAL LTD (THE "COMPANY"), OF ITS BUSINESS AND ASSETS; AND (2) PROPOSED SUBSCRIPTION (THE “SUBSCRIPTION”) OF 12.86 PERCENT OF THE ENLARGED ISSUED SHARE CAPITAL OF SANCTUARY SPA GROUP PTE. LTD. ("SSG")
Description	Please refer to Part II.
Attachments	Download (92kb)

PART II

EU YAN SANG INTERNATIONAL LTD
(Company Registration No. 199302179H)
(Incorporated in Singapore)

(1) Proposed disposal (The "Disposal") by Red White & Pure Pte. Ltd. ("RWP"), a wholly-owned subsidiary of Eu Yan Sang International Ltd (The "Company"), of its business and assets

(2) Proposed subsciption (The "Subscription") of 12.86 percent of the enlarged issued share capital of sanctuary SPA Group Pte. Ltd. ("SSG")

The Company refers to its announcements dated 8 May 2008 and 2 July 2008 in relation to the conditional sale and purchase agreement entered into between RWP and SSG on 8 May 2008 in connection with the Disposal and the Subscription (the "SPA").

The Company wishes to update that in view of the current economic conditions and for various commercial reasons, RWP and SSG have agreed not to proceed with the Disposal and Subscription, and have on 12 January 2009 entered into a settlement deed to terminate the SPA on mutually agreed terms.

The termination of the SPA is not expected to have any material financial impact on the Company and the Group for the current finacial year.

By Order of the Board
Submitted by Danny Heng Hang Siong,
Chief Financial Officer & Company Secretary,
On 23 January 2009 to the SGX.