TIL Tembusu

TIDMTIL

RNS Number : 9100R

Tembusu Investments Limited

11 November 2011

11 November 2011

Tembusu Investments Limited

("Tembusu" or the "Company")

Incorporation of New Subsidiary

The Board has recently been looking at the opportunities offered by the high economic growth in Mongolia.

It has been reported that Mongolia has been experiencing high economic growth recently. It appears that Mongolia is expected to continue to have high economic growth powered primarily by its natural resources sector. The Board feels that it is possible to enhance shareholder value by acquiring or building suitable high growth businesses in Mongolia in line with the existing investment strategy of the Company.

The Company has recently incorporated Nova Mongolia Corp Pte Ltd, a Singapore incorporated company ("Nova Mongolia"). Nova Mongolia will have an initial paid up capital of S$1,000 (Singapore Dollars One Thousand); Chan Fook Meng, Chairman and CEO of Tembusu, is presently the sole director of Nova Mongolia. It is intended that Nova Mongolia be the vehicle to look for, and capitalise on, opportunities offered by the high economic growth in Mongolia.

Nova Mongolia expects to appoint more directors as well as management and will make such announcements, as and when, appropriate. There could be more shareholders. If opportunities present themselves, Nova Mongolia may raise funds to take advantage of such opportunities.

The management feels that it is appropriate to change the name of the Company to "Nova Resources Limited" to reflect its change of investment strategy and direction. A general meeting will be convened for the shareholders to consider the change of name and a further announcement will be made at the appropriate time.

 
 For enquiries: 
 
 Tembusu Investments Limited          Tel: +65 9630 7808 
 Chan Fook Meng, Chairman and Chief 
  Executive Officer 
 
 Allenby Capital Limited (Nominated   Tel: +44 (0)20 3328 5656 
  Adviser and Broker) 
 Brian Stockbridge 
 Dan Robinson 
 James Reeve 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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