The Board of Directors of Swiber Holdings Limited and together with its subsidiaries announces that the Company has incorporated a new wholly-owned subsidiary known as “Swiber Atlantis Pte. Ltd.” (“SAPL”) in Singapore with the initial issued and paid up share capital of US$10,000.00.
SAPL will be principally engaged in owning and chartering of vessels.
The transaction is funded through internal resources and is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its Group for the current financial year ending 31 December 2012.
None of the Directors or Substantial Shareholders of the Company has any interest in the above transactions, save for their interests arising by way of their directorships in the Company and SAPL.
Press Release, July 17, 2012