Increase Of Investment In N-Inc Pte. Ltd.
The Board of Directors of Lifebrandz Ltd. (the "Company") wishes to announce that the Company had on 21 October 2005 increased its investment in N-Inc Pte. Ltd. ("N-Inc") by subscribing for 299,999 ordinary shares of S$1.00 each in N-Inc for a total cash consideration of S$299,999.
Consequent to the above subscription, N-Inc remains a wholly-owned subsidiary of the Company with an issued and paid-up share capital of S$300,000.
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.