WARRANT ISSUE OF ADVANCE MODULES GROUP LIMITED - DREW & NAPIER LLC AS COUNSEL TO THE WARRANT ISSUE
Singapore, 21 August 2007 – Drew & Napier LLC (“Drew& Napier”) acted as counsel to the issue of 34,181,875 warrants (Warrants)at the issue price of S$0.05 for each Warrant (Warrant Issue), each Warrant carrying the right to subscribe for one new share at an exercise price of S$0.17 for each new share (New Shares)in the capital of Advance Modules Group Limited (the “Company”). The Warrants were successfully listed on the Official List of the Singapore Exchange Securities Trading Limited (“SGX”) on 15th August 2007. The Company raised an approximate S$1,669,000 from the Warrant Issue and the gross proceeds arising from the exercise of all the Warrants are estimated to be S$5,811,000.
The Company’s principal activity is manufacturing memory modules and flash memory products. Memory modules are primarily used in personal computers, laptops, office servers and workstations, while flash memory products are used as storage media in digital electronic devices, such as digital cameras and mp3 players. The products are marketed under the brand name ‘Advance Modules’, ‘AM Plus+’ and ‘AMV’. The Company has production facilities based in Malaysia and China.
The Company has also ventured upstream in its manufacturing process into semiconductor integrated circuit packaging, thus allowing the Company to have better quality control over its processes from the incoming of raw material to the finished products. Further, the Company provides contract manufacturing services as an Original Equipment Manufacturer.
The Drew & Napier team was led by Mr Petrus Huang, Director of Drew & Napier, Ms Joanne Lee and Ms Stephanie Chew.
For more information please contact:
Verona Huang
Corporate Affairs
Drew & Napier LLC
Tel: +65 6531 2482
Email: verona.huang@drewnapier.com
About Drew & Napier LLC
Drew & Napier LLC is a full service practice covering the entire spectrum, both domestic and cross-border, of civil, commercial and criminal practice. Leading international legal directories regularly recommend Drew & Napier for its various areas of practice. Asia Pacific Legal 500 2005/2006 Edition ranks Drew & Napier in the top tier of legal practices in Singapore for Dispute Resolution and for Intellectual Property. The publication also cites Drew & Napier as a leading practice for: Corporate/M&A; Banking, Finance & Capital Markets; Construction; Information Technology; International Arbitration; Real Estate; and Shipping. Chambers Global: The World’s Leading Lawyers 2004-2005 ranks Drew & Napier as one of the leading Banking and Finance, Corporate/M&A and Shipping practices in Singapore. IFLR1000: The Guide to the World’s Leading Financial Law Firms 2005 Edition recommends Drew & Napier LLC as one of the leading practices in Singapore for Banking, Capital Markets, Insolvency & Restructuring and Mergers & Acquisitions. PLC Which lawyer? Yearbook Singapore 2005 ranks Drew & Napier LLC as a leading firm for Dispute Resolution and Telecommunications. It also highly recommends Drew & Napier for Corporate Real Estate and recommends the Equity Capital Markets practice. Asian Legal Business also honoured Drew & Napier with the “International Arbitration Firm of the Year”, “Commercial Litigation Firm of the Year”, “Southeast Asia M&A Deal of the Year” and “Insolvency & Restructuring Deal of the Year” awards in its ALB Deals of the Year Awards South East Asia 2007.
Besides a main office in Singapore, it also has a branch office in Shanghai, and trademarks and patents offices in Kuala Lumpur and Jakarta.