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The Board of Directors of AP Oil International Limited (the “Company”) wishes to announce that GB Chemicals Pte. Ltd., a wholly-owned subsidiary of the Company, has increased its issued and paid up share capital from SGD 100,000 to SGD 490,000 by capitalizing SGD 390,000 shares from its retaining earning account. The transaction is not expected to have any material impact on the net earnings per share or net tangible assets as per share of the Company for the financial year ending 31 December 2008. None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the aforesaid transaction save their shareholdings in the Company. By order of the Board Dr Ho Leng Woon Chairman Date : 18 December 2008 |
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