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Oxley Holdings' JV increases issued and paid-up capital to S$4m

OXLEY Serangoon Pte Ltd, a joint venture company of Oxley Holdings, has increased its issued and paid-up capital from S$100 to S$4 million.

In a Singapore Exchange filing on Thursday, Oxley Holdings said this was by way of the issue of about four million new ordinary shares at S$1 each to Oxley Holdings (about 1.6 million shares), Lian Beng (Serangoon) Pte Ltd (about 800,000 shares), Unique Invesco Pte Ltd (about 800,000 shares) and Apricot Capital Pte Ltd (about 800,000 shares).

Following the aforesaid issue of shares, Oxley Holdings, Lian Beng (Serangoon), Unique Invesco and Apricot hold 40 per cent, 20 per cent, 20 per cent and 20 per cent, respectively, of the issued and paid-up capital of Oxley Serangoon.

"The aforesaid subscription of shares by the company was funded by internal resources and is not expected to have any material impact on the net tangible assets per share or earnings per share of the company for the current financial year ending June 30, 2018," Oxley Holdings said.

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Oxley Holdings closed trading at S$0.555 on Thursday, down one Singapore cent, or 1.78 per cent.