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COSCO SHIPPING International (Singapore) Co., Ltd. (“COSCO SHIPPING” or the “Company” and together with its subsidiaries, the “Group”) aims to become the best-integrated logistics service provider in South and Southeast Asia. The Company is also involved in dry bulk shipping, ship repair and marine engineering, as well as property management.
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Resolutions Passed At The Extraordinary General Meetings
The Board of Directors of Cosco Corporation (Singapore) Limited ("the Company") wishes to announce pursuant to Rule 704(14) of the Listing Manual of the Singapore Exchange Securities Trading Limited, that the following ordinary resolutions were passed by the shareholders of the Company at each of the following Extraordinary General Meetings held on 20 April 2004: -
1. Extraordinary General Meeting held at 11.15 a.m. immediately after the conclusion of the Annual General Meeting of the Company held at 11.00 a.m. on the same date and at the same place: -
The proposed bonus issue of up to 181,258,744 new ordinary shares of S$0.20 each in the capital of the Company ("Bonus Shares") on the basis of one (1) Bonus Share credited as fully paid for every five (5) existing shares held.
2. Extraordinary General Meeting held at 11.30 a.m. immediately after the conclusion of the Extraordinary General Meeting of the Company held at 11.15 a.m. on the same date and at the same place: -
The proposed acquisition of two new vessels by the Company two wholly-owned subsidiaries, one vessel by Cos Orchid Shipping Inc. and the other by Cos Prosperity Shipping Inc. respectively, to be constructed by Nantong Cosco KHI Ship Engineering Co, Ltd. for an aggregate purchase consideration of US$37.0 million.
3. Extraordinary General Meeting held at 12.00 noon. immediately after the conclusion of the Extraordinary General Meeting of the Company held at 11.30 a.m. on the same date and at the same place: -
The proposed modifications to the Cosco Group Employees' Share Option Scheme 2002