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Latest NewsJuly 2006ST Electronics' Associate Company, Singapore, 4 July 2006 - Singapore Technologies Electronics Limited (ST Electronics) today announced that Green Dot Internet Services Pte Ltd (GDIS), an associated company of ST Electronics (Info-Software Systems) Pte Ltd (STEE-Infosoft), has redeemed all its issued Convertible Redeemable Preference Shares (CRPS) proportionately from the registered holders of CRPS. The redemption is by way of converting the 238 CRPS at $1,000 each held by STEE-InfoSoft in GDIS into 238,000 ordinary shares at $1 each. STEE-InfoSoft is a wholly-owned subsidiary of ST Electronics, the electronics arm of ST Engineering. Following this exercise, the number of ordinary shares in GDIS held by STEE-InfoSoft has increased from 714,000 to 952,000 but the percentage shareholding held by STEE-InfoSoft in GDIS remains unchanged at 23.8 per cent. The redemption 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. GDIS is an e-business enabler and Internet services and solutions provider, helping enterprises harness the potential of the Internet. Its core competency is in portal operation and management and call center services. Media contact:Magdalen Loh
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