UMS HOLDINGS LIMITED
(Company Registration Number 200100340R)
(Incorporated in the Republic of Singapore)
INCREASE OF PAID-UP CAPITAL IN WHOLLY-OWNED SUBSIDIARY - ULTIMATE MECHANICAL SYSTEM SDN. BHD.
The Board of Directors of UMS Holdings Limited (the "Company") wishes to announce that it has increased the paid-up capital of its wholly-owned subsidiary, Ultimate Mechanical System Sdn. Bhd. from RM1,000 to RM2,500,000 via a subscription of additional shares (the "Transaction").
1. Rationale for the Transaction
The Transaction was undertaken for the purpose of ensuring sufficient working capital for development of Ultimate Mechanical System Sdn. Bhd.
2. Financing and Financial Effects of the Transaction
The Transaction was funded through internal sources and is not expected to have material impact on the consolidated net tangible assets per share and consolidated earnings per share of the Group for the financial year ending 31 December 2019.
3. Interest of Directors and Controlling Shareholders
None of the directors or substantial shareholders of the Company have any interest, direct or indirect, in the Transaction save for their shareholdings in the Company.
By Order of the Board
Chief Executive Officer
25 October 2019
UMS Holdings Limited published this content on 25 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2019 09:40:04 UTC