Mencast Holdings subscribes for Mencast Engineering shares

The subscription involved 1,999,998 new ordinary shares.

The Board of Directors of Mencast Holdings Ltd. announced that it has increased its investment in its wholly-owned subsidiary Mencast Engineering Pte. Ltd. by way of a share subscription.

The company has subscribed for 1,999,998 new ordinary shares in the capital of MEPL by way of capitalisation of amount due from MEPL of S$1,999,998.

Following the said subscription, the company’s share capital in MEPL has increased from S$2 to S$2,000,000.

Meanwhile the above subscription is not expected to have any material impact on the net tangible assets or earning per share of the company for the current financial year ending 31 December 2012.