Asia Pacific Wire & Cable Announces an Amended and Restated Shareholders' Agreement

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Mon Mar 30, 2009 1:06pm EDT

Asia Pacific Wire & Cable Announces an Amended and Restated Shareholders'
Agreement

NEW YORK, March 30 /PRNewswire-FirstCall/ -- Asia Pacific Wire & Cable
Corporation Limited (OTC Bulletin Board: AWRCF) (the "Company") announced
today that it has entered into an Amended and Restated Shareholders'
Agreement, effective as of today, with its majority shareholder, Pacific
Electric Wire & Cable Company Limited, and another investor of the Company,
SOF Investments, L.P.  Among other things, the new agreement grants to the
Company an extension for listing its common shares on a national exchange
until February 2011.

In connection with the new agreement, SOF rescinded its request that PEWC
repurchase all of SOF's common shares of the Company as provided for under the
original Shareholders' Agreement.  Rather, SOF sold only 51% of the Company
shares held by it to PEWC and SOF retained 49% of the Company shares that it
purchased in June 2007.  The sale, effective as of today, results in PEWC
holding 65.6% of the equity of the Company and SOF holding 9.8%.  The Company
looks forward to continuing its investor relationship with SOF. 
 
About Asia Pacific Wire & Cable
Asia Pacific Wire & Cable Corporation is a leading manufacturer of wire and
cable products for the telecommunications and power industries in selected
markets in the Asia Pacific Region.
 
Except for statements of historical facts, this news release contains certain
forward-looking statements about the Company.  Such statements are subject to
significant risks and uncertainties including changes in economic and market
conditions, successful implementation of growth plans, and other risks noted
in the Company's SEC filings, which may cause actual results to differ
materially.

 

SOURCE  Asia Pacific Wire & Cable Corporation Limited

Ling Yun Wu of Asia Pacific Wire & Cable, (886) 2-2712-2558; or Michael
Mandelbaum of Mandelbaum Partners, +1-310-785-0810, for Asia Pacific Wire &
Cable
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