News

Bonus Issue Of Up To 21, 299, 294 New Ordinary Shares Of S$0.10 Each In The Capital Of The Company On The Basis Of One (1) Bonus Share For Every Five (5) Existing Ordinary Shares Of S$0.10 Each Held By The Shareholders Of The Company

On 12 January 2004, Qian Hu Corporation Limited (the "Company") announced a proposed bonus issue ("Bonus Issue") of 21,253,694 new ordinary shares of S$0.10 each in the capital of the Company on the basis of one (1) bonus share for every five (5) existing ordinary shares. The actual number of bonus shares to be issued by the Company would be dependent on the total issued share capital of the Company as at the Books Closure Date, which will be announced subsequently. As the Company expects a further 228,000 share options to be exercised pursuant to the Company's Pre-IPO Share Option Scheme prior to the date of the Bonus Issue, an application was made to the Singapore Exchange Securities Trading Limited ("SGX-ST") for the listing and quotation of up to 21,299,294 new ordinary shares of S$0.10 each in the capital of the Company in relation to the Bonus Issue ("Bonus Shares").

The Company is pleased to announce that the SGX-ST has, on 27 January 2004, granted in-principle approval for the Bonus Issue and the listing and quotation of the Bonus Shares.

It should be noted that the above in-principle approval granted by the SGX-ST is not an indication of the merits of the Bonus Issue.


BY ORDER OF THE BOARD

Kenny Yap Kim Lee
Executive Chairman and Managing Director
27 January 2004