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M Edia R Elease SMRT Corporation Ltd 251 North Bridge Road Singapore 179102 Tel : 65 6331 1000 Fax : 65 6339 4229 www.smrt.com.sg 05 September 2014 FOR IMMEDIATE RELEASE M SMRT Roads announces Joint Venture with Hailo Network ed SMRT Road Holdings Ltd (SMRT Roads) today announced a Joint Venture Agreement i with London-based taxi mobile application developer Hailo Network Holdings Limited a (Hailo Network) to form Hailo Singapore Pte Ltd. Under the agreement, a taxi booking R application will be introduced to passengers and taxi drivers in Singapore. e Mr. Benny Lim, Managing Director of SMRT Roads, said "The Joint Venture supports l our existing efforts in SMRT to provide enhanced travel experience for our passengers. ease The integration of Hailo Network's expertise in taxi booking systems and SMRT Road's experience in taxi operations and fleet management, offers a seamless taxi booking experience for our passengers and taxi drivers in Singapore." Mr. Ron Zeghibe, Executive Chairman and Co-Founder of Hailo Network, said “Hailo's mission is to make taxis work better for both passengers and drivers all across the world. Founded in 2011, Hailo is a global service with extensive operations in Europe, North America and Asia. By partnering with SMRT Roads, we are combining the best- in-class Hailo app with the resources needed to provide a new level of choice, quality and service for Singapore. Hailo is here for the long term and is excited to be working with SMRT, the leading multi-modal public transport operator in Singapore.” Targeted for launch in Singapore next month, the Hailo taxi booking application offers passengers fuss-free cashless payment. Passengers can register their credit cards with Hailo and receive e-mail receipts at the end of their trips. This shortens the time required for the processing of payment, for both the passenger and taxi driver. With just a few taps, users can book and track their taxi’s arrival through a real-time display. ****** CRN: 200001855H SMRT Corporation Ltd About SMRT Corporation Ltd SMRT Corporation Ltd (SMRT) is the leading multi-modal public transport operator in Singapore. SMRT serves millions of passengers daily by offering a safe, reliable and comprehensive transport network that consists of an extensive MRT and light rail system which connects seamlessly with its island-wide bus and taxi operations. SMRT also markets and leases the commercial and media spaces within its transport network, and offers engineering consultancy and project management as well as operations and maintenance services, locally and internationally. About Hailo Network Holdings Limited Launched in November 2011, Hailo is available in London, New York, Ireland, Toronto, Chicago, Boston, Madrid, Barcelona, Washington DC, Montreal and Osaka. Hailo has carried over ten million passengers and grown to annualized sales of well over $100M. More information about Hailo Network can be found here: https://www.hailoapp.com/. -End- Media Contact Corporate Marketing and Communications, SMRT Corporation Ltd Tel: 9822 0902 Email: [email protected] Page 2 of 2 CRN: 200001855H SMRT CORPORATION LTD (Incorporated in the Republic of Singapore) (Company Registration Number 200001855H) JOINT VENTURE WITH HAILO NETWORK SMRT Corporation Ltd (the “Company”, and together with its subsidiaries, “SMRT Group”) wishes to announce that its wholly-owned subsidiary, SMRT Road Holdings Ltd (“SMRT Roads”) has entered into a Joint Venture Agreement (“JV Agreement”) with Hailo Network Holdings Limited (“Hailo Network”) on 5 September 2014. The joint venture will operate the Hailo taxi booking app in Singapore which Hailo Network will license to the joint venture under an IP Licence and IT Services Agreement to be entered into by Hailo Network with the joint venture company, called Hailo Singapore Pte Ltd (“Hailo Singapore”), which was also incorporated on 5 September 2014. Pursuant to the JV Agreement, SMRT Roads and Hailo Network will each acquire one ordinary share in the share capital of Hailo Singapore. SMRT Roads together with Hailo Network will also each subscribe for a further 49,999 new shares in the share capital of Hailo Singapore. Upon completion of the acquisition and subscription of shares, the share capital of Hailo Singapore will be held in the following numbers and proportion: Name of Joint Venture Parties Shareholding % Number of Issued and Paid-Up Shares Share Capital (S$) SMRT Roads 50 50,000 50,000 Hailo Network 50 50,000 50,000 The consideration for the acquisition and subscription of shares in Hailo Singapore by SMRT Roads was arrived at taking into account the strategic value of the investment and will be paid in cash on completion, which is expected to take place shortly. The acquisition and subscription of the shares in Hailo Singapore by SMRT Roads pursuant to the JV Agreement is not expected to have any material impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and SMRT Group for the current financial year ending 31 March 2015. None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transaction, other than through their shareholdings in the Company. Submitted by Jacquelin Tay Gek Poh, Company Secretary, on 05/09/2014 to the SGX-ST .
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