The Board of Directors of OKP Holdings Limited ("the Company") wishes to announce that the Company has subscribed for additional 108,900 ordinary shares in the share capital of United Pavement Specialists Pte Ltd ("UPS"), a subsidiary of the Company, by way of the capitalisation of a sum of S$108,900.00 owing to the Company. The other shareholders of UPS have, in proportion to their respective shareholdings, subscribed for an additional aggregate of 89,100 ordinary shares in the share capital of UPS.
With the above investment, the issued and paid-up capital of UPS is now S$200,000.00, of which the Company holds 55%.
The additional investment in UPS is not expected to have any material impact on the earnings per share or net tangible assets per share of the Company and its subsidiary companies for the current financial year ending 31 December 2006.
None of the Directors has any interest, direct or indirect, in the investment. As far as the Directors are aware, none of the controlling shareholders of the Company has any interest, direct or indirect, in the investment.