Investor Relations - News
Acquisition Of Shares In RCR Tomlinson Limited By MTQ Engine Systems (Aust) Pty Ltd
The Board of Directors of Metalock (Singapore) Limited ("Metalock" or "the Company") is pleased to announce that its wholly-owned subsidiary, MTQ Engine Systems (Aust) Pty Ltd ("MTQ") has acquired additional 1,274,001 ordinary shares in the share capital of RCR Tomlinson Limited ("RCR") at A$0.18 per share at a total consideration of A$229,320.18 pursuant to an on-market purchase on the Australian Stock Exchange on 1 April 2003 on a "willing buyer and willing seller" basis. Arising from the above transaction, MTQ's equity interest in RCR is increased from 19.9% to 22.9%.
The net tangible assets backing per share for RCR as at 31 December 2002 was A$0.46.
The acquisition had been paid in cash and was funded through internal resources.
Had the transaction taken place on 1 April 2002, the transaction is not expected to have any material impact on the consolidated net tangible assets per share or earnings per share of the Company for the nine months ended 31 December 2002.
None of the Directors of the Metalock have any interest, direct or indirect, in this transaction.
BY ORDER OF THE BOARD
METALOCK (SINGAPORE) LIMITED
FONG CHOON SENG
COMPANY SECRETARY