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The Board of Directors of Hong Leong Asia Ltd. (the “Company’) wishes to announce that HLGE had on 24 March 2010 issued 17,300,000 new ordinary shares (the “Ordinary Shares”) to Grace Star Services Ltd. (“Grace Star”), an indirect wholly-owned subsidiary of China Yuchai International Limited, which in turn is a subsidiary of the Company. The said issue of Ordinary Shares by HLGE was effected pursuant to the mandatory conversion of 17,300,000 series B redeemable convertible preference shares of HLGE (“Series B RCPS”) held by Grace Star, at the conversion ratio of one new Ordinary Share for every one Series B RCPS (the “Mandatory Conversion”).
HLGE is a company listed on the Singapore Exchange Securities Trading Limited (the “SGX-ST”). Following the Mandatory Conversion being effected, Grace Star’s interest in HLGE has increased from approximately 45.38% to approximately 46.38% of the enlarged total number of Ordinary Shares in issue as at 22 April 2010. No further cash outlay was paid for the Mandatory Conversion by Grace Star.
By Order of the Board
HONG LEONG ASIA LTD.
Ng Siew Ping, Jaslin
Company Secretary
23 April 2010
Singapore
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