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First Pacific Company Limited ("FPCL") has transferred and disposed the entire 5,070,000 shares of the Company in order to meet and fund its obligations to its Shareholders under the FP Distribution-in-specie (as defined in the Company's Circular to its Shareholders dated 11 December 2006).
(i) FPIL (BVI) together with First Pacific Investments Limited ("FPIL") collectively own more than 20% of the issued share capital of FPCL. By virtue of Section 7(4A) of the Companies Act (Chapter 50) ("the Act"), FPIL (BVI) is deemed to be interested in the shares owned by FPCL. (ii) By virtue of Section 7 of the Act, FPCL is deemed to be interested in the shares owned by Indofood Singapore Holdings Pte. Ltd. ("ISHPL"). Accordingly, by virtue of Section 7(4A) of the Act, FPIL (BVI) is deemed to be interested in the shares owned by ISHPL. | |