Food Republic, a wholly-owned subsidiary of Topwin Investment Holding Pte Ltd, ("Topwin") has increased its issued and paid-up share capital from S$1 to S$1,000,000 by an allotment of 999,999 ordinary shares for S$1.00 each to Topwin, satisfied in full by the capitalisation of part of an existing shareholder's loan from Topwin.
This transaction is not expected to have any material impact on the earnings per share and net tangible assets of the Company and the Group for the financial year ending 31 December 2007.
This investment does not constitute a discloseable transaction under the provisions of Rule 1010 of the Singapore Exchange Securities Trading Limited's Listing Manual.
None of the Directors or controlling shareholders of the Company has any interest, direct or indirect in the above transaction.
BY ORDER OF THE BOARD
Tan Cher Liang
28 June 2007