TELECHOICE INTERNATIONAL LIMITED (REG. NO. 199802072R)
INCREASE OF INVESTMENT IN A WHOLLY-OWNED SUBSIDIARY - PLANET TELECOMS MANAGED SERVICES SDN. BHD.
The Board of Directors of TeleChoice International Limited (the "Company") wishes to announce that the Company has been allotted and issued 500,000 new ordinary shares of RM1.00 each in the issued and paid-up capital of Planet Telecoms Managed Services Sdn. Bhd. ("PTMS"), a wholly- owned Malaysian subsidiary of the Company, by way of a bonus issue of new ordinary shares on the basis of one (1) new ordinary share to be credited as fully paid for every one (1) existing ordinary share held by the Company in PTMS (the "Bonus Issue"). The consideration for the allotment and issuance is by way of capitalising an amount equivalent to RM500,000.00 from the audited retained profit of PTMS as at 31 December 2014. Following the Bonus Issue, the issued and paid-up capital of PTMS has increased from RM500,000.00 comprised of 500,000 ordinary shares to RM1,000,000.00 comprised of 1,000,000 ordinary shares.
The Bonus Issue is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Company for the current financial year ending 31 December 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 shareholding interests in the Company.
By Order of the Board
Lim Shuh Moh Vincent
President
10 June 2015
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