The Board of Directors of JES International Limited (the "Company") is pleased to announce that it has, through its wholly owned subsidiary, [ ], acquired the 30% stake in [ ] for a total consideration of RMB1 ISR CAPITAL LIMITED

(Company Registration No. 200104762G) (Incorporated in the Republic of Singapore) (the "Company")



SETTLEMENT AGREEMENT WITH MMP RESOURCES LIMITED



The Board of Directors (the "Board") of ISR Capital Limited (the "Company") wishes to announce that the Company has entered into a settlement agreement dated 15 January 2016 (the "Settlement Agreement") with MMP Resources Limited ("MMPRL"), a company incorporated in the Republic of Singapore and listed on the Mainboard of Singapore Exchange Securities Trading Limited ("SGX-ST"), pursuant to which MMPRL agreed to issue 26,509,030 new ordinary shares (the "New Shares") as settlement of rent outstanding from 1 March 2015 to 31 December 2015 and other charges as well as payment of rent for the period from 1 January 2016 to 31 March 2016.


The aggregate cost of the New Shares, which amounts to S$259,788, represents approximately 17.5% of the Group's audited consolidated net tangible asset as at 31 December 2014. The receipt of the New Shares issued by MMPRL is considered as payment in lieu of cash and will be accounted for as current investment classified as "Financial Assets, Available-for-Sale". The Company intends to liquidate the New Shares issued by MMPRL as and when cashflows are required for working capital, whilst actively monitoring the progress of MMPRL shares and the market.


The New Shares shall be allotted and issued at an issue price of S$0.0098 per New Share (the "Issue Price"). The issue price of S$0.0098 is calculated based on the volume weighted average price ("VWAP") per share of MMPRL for the five consecutive days on which the shares of MMPRL are traded on the SGX-ST immediately before the date of the Settlement Agreement. The New Shares, when allotted and issued, shall rank pari passu in all respects with the existing Shares of MMPRL except that they will not rank for any dividend, right, allotment or other distributions, the record date for which falls on or before the date the New Shares are issued.


Submitted by Ms Quah Su-Yin, Chief Executive Officer and Executive Director, for and on behalf of the Board on 15 January 2016 to the SGX-ST.

ISR Capital Ltd. issued this content on 2016-01-15 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-15 11:32:07 UTC

Original Document: http://www.isrcap.com/attachment/201601151926151743050340_en.pdf