News

Increase In Shareholding In Subsidiary, Future Enterprises Pte Ltd

The Board of Directors of Food Empire Holdings Limited ("the Company") wishes to announce that the Company has subscribed for an additional 100,000 ordinary shares in its wholly-owned subsidiary, Future Enterprises Pte Ltd ("Future"). The Company has increased its shareholding from 700,000 ordinary shares to 800,000 ordinary shares in the capital of Future. Future had allotted 99,930 ordinary shares in satisfaction of S$52,964,000 owing by Future to the Company and 70 ordinary shares for a cash consideration of S$36,000 which is funded by internal resources.

The transaction is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the financial year ending 31 December 2008

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transaction.


By Order of the Board


Tan Wang Cheow
Director
16 October 2008