Incorporation Of Subsidiary
The Board of Directors of Lifebrandz Ltd. (the "Company") wishes to announce that the Company has today incorporated a wholly-owned subsidiary in Singapore known as N-Inc Pte. Ltd. ("N-Inc").
The Company has subscribed for 1 ordinary share of S$1 in the capital of N-Inc at par. The authorised share capital of N-Inc is S$1,000,000 divided into 1,000,000 ordinary shares of S$1 each.
N-Inc is set up to be principally engaged in brand management, marketing, sales and distribution of fashion products.
Mr Kenneth Goh Tzu Seoh and Mr Clement Lee Shieh-Peen are nominated as directors of N-Inc.
The above investment was funded through internal resources and is not expected to have any material impact on the earnings per share and the net tangible assets per share of the Company for the most recently completed financial year.
None of the Directors or substantial shareholders of the Company has any interest, direct or indirect in the above investment.