Roxy-Pacific Holdings boosts shares in Roxy Residential

Investment ballooned from $2 to $1m.

In an SGX release, the Board of Directors of Roxy-Pacific Holdings Limited announced that the Company has increased its investment in its wholly-owned subsidiary, Roxy Residential Pte. Ltd., by subscribing an additional 999,998 ordinary shares for a total consideration of S$999,998.00 thereby increasing the investment of the Company in Roxy Residential from S$2.00 to S$1,000,000.00.

Subsequent to the above subscription, the shareholdings held by the Company in Roxy Residential remain unchanged at 100%.

The above investment is funded through internal resources and is not expected to have any material impact on the earnings per share and the net tangible assets per share of the Company for the current financial year ending 31 December 2012.