The Board of Directors (“Board”) of mm2 Asia Ltd. (“Company”, and together with its subsidiaries, “Group”) wishes to announce that the Company’s wholly-owned subsidiary, mm2 Entertainment Pte. Ltd. has increased its paid-up share capital from S$500,000 to S$2,000,000 via an allotment and issuance of 1,500,000 ordinary shares at S$1.00 per share to the Company (“Increase of Share Capital”).
The Increase of Share Capital was funded through internal resources and is not expected to have any material impact on the net tangible assets per share and earnings per share of the Group for the financial year ending 31 March 2018.
None of the Directors, controlling shareholders or substantial shareholder of the Company has any interest, direct or indirect, in the Increase of Share Capital, save for their shareholdings in the Company.
By Order of the Board
Melvin Ang Wee Chye
14 December 2017