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Notes to the Consolidated Financial Statements31 December 2024224ADVANCING AHEAD35.DISPOSAL OF SUBSIDIARIES (continued)Logos Founders Roll-UpReference is made to the circular of the Company dated 18 October 2021 in relation to the acquisition of ESR Asset Management Limited (formerly known as ARA Asset Management Limited) (%u201cARA%u201d, together with its subsidiaries, the %u201cARA Group%u201d), pursuant to which the Company acquired an indirect 86.4% interest in LOGOS Property Group Limited (%u201cLOGOS%u201d), with the remaining 13.6% interest in LOGOS (the %u201cLOGOS Founder Stake%u201d) being held by the three founders of LOGOS, namely Mr John Edward Marsh, Mr Trent Alexander Iliffe and Mr Stephen Hawkins (collectively, the %u201cLOGOS Founders%u201d). As announced on 21 July 2024 and 26 July 2024, the Company has completed the acquisition of the part of the LOGOS Founder Stake held by Mr Stephen Hawkins on 20 June 2024; and entered into share purchase agreements with, among others, Mr John Edward Marsh and Mr Trent Alexander Iliffe, respectively, on 25 July 2024, pursuant to which the Company agreed to acquire the remaining part of the LOGOS Founder Stake held by Mr John Edward Marsh and Mr Trent Alexander Iliffe, the consideration of which will be satisfied by (a) in the case of Mr Trent Alexander Iliffe, cash consideration and (b) in the case of Mr John Edward Marsh, both cash consideration and allotment and issue of new shares in the Company credited as fully paid under the general mandate granted to the Directors by the Shareholders at the annual general meeting of the Company heldon31May2024.Accordingly,32,074,310ShareswereallottedandissuedtoMrJohnEdwardMarshaspartofthe consideration on 13 August 2024. The acquisition of the LOGOS Founder Stake was completed during the year and LOGOS is indirectly wholly-owned by the Company.Reference is made to the announcement of the Company dated 26 July 2024 (the %u201cAnnouncement%u201d) in relation to the acquisition of the LOGOS Founder Stake involving issue of new shares under general mandate (the %u201cLOGOS Founders Roll-up%u201d). Each of the Share Purchase Agreements (as defined in the Announcement) was negotiated separately with the respective LOGOS Founder and the Share Purchase Agreements were not inter-conditional. A valuation from a reputable investment bank was obtained to ensure the consideration was aligned with the current market range. After completion of the Share Purchase Agreements, Mr John Edward Marsh will remain in the Group in a new role and Trent Alexander Iliffe will continue in a consulting capacity for a period of time to assist with transition.The Group also disposed the following subsidiaries: LVLV Portfolio 2 Pte Ltd and its subsidiaries, 5% interest in LOGOS Vietnam Logistics Mandate 1 Pte Ltd, LOGOS SE Asia Vietnam Limited Liability Company, LOGOS India Holdco Pte Ltd and its subsidiaries; and LOGOS India Pte Ltd and its subsidiaries. This transaction was completed in July 2024.