TradeLabs Plc
LSE : TLAP

September 18, 2009 10:18 ET

Proposed Acquisition of Asher Investments Pte Ltd

                                                                                        JE00B3FMYW12
                                                                                   18 September 2009
                                  TradeLabs PLC
                                        
                                  (PLUS: TLAP)
                                        
                         ("TradeLabs" or "the Company")
                                        
                                        
The Proposed Acquisition of Asher Investments Pte Ltd


The  board  of  directors  of TradeLabs, the PLUS-listed (PLUS:TLAP) algorithm  trading  company  is
pleased  to  announce that it has entered into a letter of intent regarding the proposed acquisition
of  Asher  Investments  Pte  Ltd  ("Asher"),  a Singapore  incorporated  company  which  operates  a
proprietary  trading desk to trade in futures markets, beneficially owned by Dr  Stephen  Lee.   The
proposed acquisition, is subject to, inter alia, completion of satisfactory due diligence.

Consideration for the proposed acquisition is expected to be satisfied by the issue of 2,741,025 new
ordinary  shares in TradeLabs at 19 pence per share, for 69 per cent of the issued share capital  of
Asher.

The  remaining  31 per cent of the issued share capital of Asher is being acquired  by  Niraj  Goel,
Chief Executive Officer of TradeLabs, for a cash consideration of GBP233,980.

Niraj Goel, the Company's CEO, commented, "The proposed acquisition marks another important step  in
the development of the Company's global network, in addition to cementing our position in South East
Asia.

Dr  Stephen Lee further commented, "Having worked closely with Niraj Goel over the last five years  on
the  development  of  a number of trading strategies, I welcome the opportunity to  develop  a  closer
working relationship with TradeLabs in the future."


The Directors of the Tradelabs Plc accept responsibility for the contents of this announcement.

Contacts:

TradeLabs Plc
Marcus Yeoman                             +44 (0)7970 028442

Investor Relations
Claire Hocken                             +65 8135 1831

St. Helen's Capital Partners LLP
Duncan Vasey or Mark Anwyl                +44 (0)207 368 6959


Contact Information

  • TradeLabs Plc