General Announcement::INCREASE IN REGISTERED CAPITAL OF SUBSIDIARY

Issuer & Securities

Issuer/ Manager
MIYOSHI LIMITED
Securities
MIYOSHI LIMITED - SG1J04885492 - M03
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
03-Mar-2015 17:03:27
Status
New
Announcement Sub Title
INCREASE IN REGISTERED CAPITAL OF SUBSIDIARY
Announcement Reference
SG150303OTHR8H7H
Submitted By (Co./ Ind. Name)
SIN KWONG WAH ANDREW
Designation
CEO
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Miyoshi Limited (the Company and together with its subsidiaries, the Group) wishes to announce that Miyoshi Hi-Tech Co., Ltd (MHT), a non-wholly-owned subsidiary of the Company has increased its share capital by issuing 250,000 new ordinary shares (the Capital Increase) to the Company and non-controlling interests of MHT, on a pro-rata basis in accordance with their shareholding interests.

The consideration for the Capital Increase of THB25,000,000 is satisfied in full by capitalizing an equivalent sum owing to the Company and its non-controlling interests. The amounts owing by MHT to the Company comprise mainly loans and advances which arose in the normal course of business. The amounts owing to non-controlling interests comprise mainly loans to MHT. The purpose of the capitalization is to strengthen the share capital base of MHT.

The issued share capital of MHT has accordingly increased to THB75,000,000, comprising 750,000 fully-paid up ordinary shares.

The Capital Increase is not expected to have any material financial effect on the earnings per share and net tangible assets per share of the Group for the financial year ending 31 August 2015.

None of the Directors or Controlling Shareholders of the Company or their respective associates (other than in their capacity as Directors or shareholders of the Company) has any interest, direct or indirect, in the above transaction.

Attachments

20150303-SGXannIncreaseInRegisteredCapitalOfMHT.pdf
Total size =44K