The Board of Directors of mDR Limited (the “Company”) wishes to announce the following:

1) STRIKING-OFF OF A DORMANT SUBSIDIARY

Pacific Cellular International Limited, a dormant subsidiary owned by the Company’s 

subsidiary Distribution Management Solutions Pte. Ltd. (“DMS”), has been struck-off from the  Register of Companies of British Virgin Islands (“Striking-Off”).

 

2)   COMPLETION OF LIQUIDATION OF SUBSIDIARY

Accord Customer Care Solutions (Network) Pty. Ltd., a subsidiary owned by the Company’s 

subsidiary Accord Customer Care Solutions (Aust) Pty. Ltd., has been   liquidated   and  deregistered in Australia   (“Liquidation”).

 

3) INCORPORATION OF SUBSIDIARY

DMS has incorporated a new wholly-owned subsidiary known as World of Gadgets Pte. Ltd. 

in Singapore with an initial capital of S$100,000.00 (“Incorporation”). The principal activity of 

World of Gadgets Pte. Ltd. is retail of electronic products, electronic gadgets, mobile phones 

and accessories. For now, there are no business activities being carried out in this subsidiary.

The Striking-off, Liquidation and Incorporation are not expected to have any material impact on 

the net tangible assets or earnings per share of the Company for the financial year ending  December 2011.

  By Order of the Board

ONG GHIM CHOON

Director & Chief Executive Officer

On behalf of mDR Limited

2 December 2011

 

A27 (MDR)       SGX

Last retrieved on Wednesday, 30 Nov, 2011 at 03:29:15 PM   Weighted Average Prices: 0.0050 Last Done Prices: 0.005   Spread/Price Ratio: 1.0000 AVG Trade Size: 316,021.739 Last Trades Volume BuyVol Mid SellVol 0.005 46 14,537,000 12,837,000 0 1,700,000 TOTAL 46 14,537,000 12,837,000 0 1,700,000

 

CESSATION OF AFTER-MARKET SERVICES FOR SAMSUNG   ASIA PTE. LTD. (HDD) 

AND PHILIPS ELECTRONICS SINGAPORE PTE. LTD.

The Board of Directors of mDR Limited (the “Company”) wishes to announce that   the 

Company will cease the following operations:

(a) provision of after-market services of hard disk drive (“HDD”) for Samsung Asia Pte. 

Ltd. (“Samsung”) following the acquisition of Samsung’s HDD manufacturing arm by 

Seagate Technology plc. The cessation of services is expected to be effective from 

mid-December subject to the completion of acquisition between Samsung and 

Seagate Technology plc.   The Company will release a   further announcement once 

the cessation date has been confirmed.

Notwithstanding the above, the Company will continue to provide   after-market 

services of consumer electronic products and handheld phones for Samsung and

(b) upon expiration of the service agreement signed with Philips Electronics Singapore 

Pte. Ltd. (“Philips”), the Company will cease to provide   after-market services of 

consumer products for Philips with effect from 31 December 2011.

(hereinafter collectively referred to as the “Cessation”)

Assuming the Cessation had been completed at the end of FY2010, the net tangible asset 

per share of the Group would have remained the same at 0.33 cents.

Assuming the Cessation had been completed at the beginning of FY2010, the earnings per 

share of the Group would have decreased by 0.02 cents from 0.16 cents to 0.14 cents.

By Order of the Board

ONG GHIM CHOON

Director

On behalf of mDR Limited

18 November 2011

 

 

 

The Rights Shares and Warrants will be listed and quoted on the Official List of the SGX-ST with  effect from 9.00 a.m. on 27 September 2011 and 28 September 2011 respectively.

Following the allotment of   the   Rights   Shares, the existing issued and paid-up share capital of the  Company has increased from 4,738,667,743 Shares to 6,318,223,657 Shares.