Singapore Technologies Engineering Ltd has announced that ST Aviation Resources Pte. Ltd. (ST Aviation Resources), a subsidiary of Singapore Technologies Aerospace Ltd (ST Aerospace), has effected a capital reduction of its issued share capital from S$7.0m to S$2.5m.
This exercise will result in the cancellation of 4,500,000 ordinary shares in the issued and share capital of ST Aviation Resources. Following the capital reduction, ST Aviation Resources will apply for de-registration at the appropriate time.
The capital reduction is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.Date: May 18, 2017