News

Capital Reduction Of Wholly-Owned Subsidiaries

TeleChoice International Limited ("TeleChoice") wishes to announce that its wholly-owned subsidiaries, ST SunPage Pte Ltd ('STSP") and NexWave Solutions Pte. Ltd. ("NWS"), have reduced their share capital with effect from 13 Apr 2006:-

a. STSP reduced its paid-up capital from S$19M to S$13M, through the cancellation of 6,000,000 STSP shares; and

b. NWS reduced its paid-up capital from S$6M to S$1M, through the cancellation of 5,000,000 NWS shares.

The capital reduction exercise for STSP and NWS, which was effected in compliance with section 78B of the Companies Act (Cap.50), was undertaken to optimise the Group's cash management and capital structure, and is not material in the context of TeleChoice's overall financial position and operations.