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The Board of Directors of YHI International Limited (the "Company") wishes to announce that on 19 April 2005, YHI Manufacturing (Singapore) Pte Ltd ("YHI (Manufacturing)"), a wholly-owned subsidiary of the Company, has acquired the remaining 49% minority shareholding in Eastbourne Metal Coatings Co Ltd ("Eastbourne"), for a total cash consideration of US$490,000. Following the acquisition, Eastbourne will be a wholly-owned subsidiary of the Company. The principal activity of Eastbourne is to provide metal surface finishing services to chrome alloy wheels.
The transaction is not expected to have any material impact on the net tangible assets or earnings per share of the Company for the current year.
None of the Directors or substantial shareholders of the Company has an interest, direct or indirect in this transaction.
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