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|Under the FP Distribution-in-specie (as defined in the Company's Circular to its Shareholders dated 11 December 2006), First Pacific Company Limited ("FPCL") has transferred and disposed 5,070,000 of its shares in the Company in order to meet and fund its obligations to its Shareholders. |
First Pacific Investments Limited ("FPIL") and First Pacific Investments (B.V.I.) Limited ("FPIL (BVI)") have each received 1,125,344 and 882,444 shares respectively, from FPCL under the FP Distribution-in-specie.
Salerni owns more than 50% of the issued share capital of FPIL (BVI); FPIL (BVI) and FPIL collectively own more than 20% of the issued share capital of FPCL. By virtue of Sections 7 and 7(4A) of the Companies Act (Chapter 50) ("the Act"), FPIL (BVI) and FPIL are deemed to be interested in the shares owned by Indofood Singapore Holdings Pte. Ltd. ("ISHPL") and FPCL. Accordingly, by virtue of Section 7 of the Act, Salerni is deemed to be interested in the shares owned by ISHPL, FPCL, FPIL (BVI) and FPIL.