Investor Relations ASL Marine Holdings Ltd
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BackNov 16, 2004
| The Board of Directors (the "Directors") of ASL Marine Holdings Ltd. (the "Company" or "ASL Marine") refers to the announcement released by Links Island Holdings Ltd ("LIHL") dated 8 October 2004 on the proposed acquisition by LIHL of the 50% interests held by Manhattan Investments Pte Ltd ("MIPL") in each of ASL Energy Pte. Ltd. ("ASLE"), Lian Beng Energy Pte. Ltd. and Tat Hong Energy Pte. Ltd. (collectively known as the "Joint Venture Companies"). LIHL is acquiring 14,040,000 ordinary shares of S$1.00 each comprising 50% of the total issued share capital of ASLE that are held by MIPL. ASLE is a 50% jointly-controlled entity of ASL Marine. ASLE is a private company limited by shares incorporated in Singapore on 22 July 2003 pursuant to a joint venture agreement entered into between MIPL and ASL Marine. ASLE has at the date of this announcement an authorised share capital of S$100,000,000, made up of 100,000,000 ordinary shares of S$1.00 each of which 28,080,000 shares have been issued and are fully paid up. The Directors wish to inform Shareholders that the circular dated 16 November 2004 (the "Circular") despatched by LIHL today contains, inter alia, information on the ASLE Group's structure, particulars, shareholders, directors, history, principal businesses, major suppliers, major customer, competition, competitive strengths, properties and other fixed assets, financial information, trends, prospects, future plans and material transactions between ASLE and related parties. In addition, the aggregated profit forecast for all Joint Venture Companies, the principal assumptions in respect of each of the Joint Venture Companies underlying the aggregated profit forecast for all Joint Venture Companies and risk factors that may affect the Joint Venture Companies' businesses and operations, are also set out in the Circular. The information relating to the Joint Venture Companies is based on information which the Joint Venture Companies have provided to LIHL and Shareholders should be aware that there is no assurance that the profit forecast set out in the Circular in respect of the Joint Venture Companies can be achieved, as there are risks and uncertainties that may cause the actual results and performance of the Joint Venture Companies to be materially different from said profit forecast. A softcopy of the Circular will be available on the website of the Singapore Exchange Securities Trading Limited at www.sgx.com. Interests of the Directors and Controlling Shareholders As far as the Directors of the Company are aware, none of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transaction other than through their shareholdings in the Company. BY ORDER OF THE BOARD Ang Kok Tian Chairman and Managing Director |