The Board of Directors of M3TECH wishes to announce that AKN Messaging Technologies (Xiamen) Co. Ltd. (“AKN Xiamen”), a wholly-owned subsidiary of M3TECH, has incorporated a new wholly-owned subsidiary under the name of M3 Interactive (ShenZhen) Pte. Ltd. (“M3 Interactive”) on 21st December 2012 and its intended principal activities are designing computer hardware and software, computer network technology development, sales of software, other domestic trade, computer graphic design, packaging design, goods and technology exportation.
Presently, the authorised capital of M3 Interactive is 2 million RMB and the issued and paid-up share capital is 2 million RMB directly held by AKN Xiamen.
The incorporation of M3 Interactive does not have any effect on the share capital and substantial shareholders' shareholding in M3TECH and is not expected to have any material impact on the earnings and net assets of M3TECH for the financial year ending 30 June 2013.
None of the directors and/or major shareholders of M3TECH and/or persons connected to them, has any interest, direct or indirect, in the incorporation of M3 Interactive.
This announcement is dated 26th December 2012.