News

Incorporation Of Wholly-Owned Subsidiary

Lifebrandz Ltd. (the "Company") wishes to announce that the Company has acquired a company incorporated in the British Virgin Islands known as Orientstar Group Limited ("Orientstar") for investment holding purpose.

The Company has subscribed for 1 share of US$1 in the capital of Orientstar, being the existing issued and paid-up share capital of Orientstar, at par. The authorised share capital of Orientstar is US$50,000 divided into 50,000 shares of US$1 each.

Mr Kenneth Goh Tzu Seoh and Mr Clement Lee Shieh-Peen are nominated as directors of Orientstar.

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.