iFAST CORPORATION LTD.
(Company Registration No. 200007899C)
(Incorporated in the Republic of Singapore)
ANNOUNCEMENT PURSUANT TO RULE 706A OF THE LISTING MANUAL
The Board of Directors (the "Directors" or the "Board") of iFAST Corporation Ltd. (the "Company", and together with its subsidiaries, the "Group") wishes to announce the following transaction occurred during the financial quarter ended 30 September 2021 pursuant to Rule 706A of the Listing Manual of Singapore Exchange Securities Trading Limited ("SGX-ST"):
INCORPORATION OF AN INDIRECT WHOLLY-OWNED SUBSIDIARY
The Company, through its wholly-owned subsidiary, iFAST Hong Kong Holdings Limited., had on 24 September 2021 incorporated an indirect wholly-owned subsidiary in Hong Kong. Details of the indirect wholly-owned subsidiary as set out below:
The net asset value represented by the shares subscription in the abovementioned indirect wholly-owned subsidiary in Hong Kong as at 24 September 2021 was same as the amount of issued and paid-up share capital of the respective subsidiary upon its incorporation date mentioned above.
None of the directors or substantial shareholders has any interest in the aforementioned transactions, save for their interests arising by way of their directorships and/or direct and/or indirect shareholdings in the Company, as the case may be.
The aforementioned transactions are not expected to have any material impact on the Group's earnings per share and net tangible asset for the financial year ending 31 December 2021.
By Order of the Board
Lim Chung Chun
Chairman / Chief Executive Officer
23 October 2021