Mencast Holdings Ltd Updates On Proposed Acquisition Of Entire Issued And Paid-Up Share Capital Of Top Great Engineering & Marine Pte Ltd

Mencast Holdings Ltd announced that, pursuant to the Supplemental Agreement entered into between the Company and the Vendors on June 6, 2013, the 3rd Tranche Consideration Shares may be issued by the Company to the Vendors within 10 Business Days from the day falling 24 months from the Completion Date, or after the Vendors notify the Company in writing that the Profit Warranty has been met, whichever is earlier. As the Vendors have met the Profit the Directors announced that the Company has allotted and issued 7,346,939 3rd Tranche Consideration Shares at the Issue Price of SGD0.490 for each 3rd Tranche Consideration Share to the Vendors and the Nominee in accordance with the terms and conditions of the Agreement and the Supplemental Agreement. The 3rd Tranche Consideration Shares represent approximately 3.12% of the enlarged issued share capital of the Company comprising 235,132,761 Shares following the issuance of the 3rd Tranche Consideration Shares.