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COSCO SHIPPING International (Singapore) Co., Ltd. (“COSCO SHIPPING” or the “Company” and together with its subsidiaries, the “Group”) aims to become the best-integrated logistics service provider in South and Southeast Asia. The Company is also involved in dry bulk shipping, ship repair and marine engineering, as well as property management.
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The Proposed Sub-Division Of Each Ordinary Share Of S$0.20 Each In The Capital Of Cosco Corporation (Singapore) Limited Into Two Ordinary Shares Of S$0.10 Each
The Board of Directors of Cosco Corporation (Singapore) Limited (the "Company") wishes to announce that the Company intends to split its shares by way of sub-division (the "Sub-Division") of every existing ordinary share of S$0.20 each into two ordinary shares of S$0.10 each in the capital of the Company.
As at 24 November 2005, the Company has 1,098,767,477 ordinary shares of S$0.20 each in issue. The proposed Sub-Division would raise the number of shares to 2,197,534,954 of S$0.10 each.
The Sub-Division is subject to the approval of shareholders of the Company ("Shareholders") at an Extraordinary General Meeting ("EGM") to be convened, and the approval of Singapore Exchange Securities Trading Limited ("SGX-ST"). An application will be made to SGX-ST for the listing and quotation of all the ordinary shares of S$0.10 each arising from the Sub-Division. A Circular to Shareholders setting out further details of the Sub-Division and enclosing the Notice of the EGM will also be despatched to Shareholders in due course.
The Directors are of the view that the Sub-Division will increase the affordability, accessibility and liquidity of the Company's shares available for trading on the SGX-ST.
The Company will make prompt disclosure as and when there are further developments in relation to the matters referred to above.
BY ORDER OF THE BOARD
Yao Hong
Director
24 November 2005