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Subscription Of Shares By Subsidiary Company In HLN Technologies Sdn. Bhd.

The Board of Directors of HLN Technologies Limited ("the Company") wishes to announce that HLN Technologies Sdn. Bhd. ("TSB"), a 60% owned subsidiary of HLN Micron Pte. Ltd. ("HLN Micron"), which is a wholly-owned subsidiary of the Company, has increased its issued and paid-up share capital from RM 2,500,000 to RM 3,900,000 by the allotment of 1,400,000 ordinary shares at RM1 each, at par fully paid, for a total non-cash consideration of RM 1,400,000.

Following the aforesaid subscription of shares by HLN Micron in TSB, the number of shares held by HLN Micron in TSB has increased from 1,500,000 ordinary shares to 2,340,000 ordinary shares through the subscription of 840,000 ordinary shares at RM 1 each, at par, fully paid, in the capital of TSB. The consideration paid by HLN Micron for the additional shares subscription was satisfied by capitalizing the amount RM 840,000 owing by the TSB to the Company.

The additional investment by HLN Micron in TSB is not expected to have any material effect on the earnings per share or net tangible assets per share of the Group for the current financial year.

No director or substantial shareholder of the Company has an interest, direct or indirect, in the aforesaid transaction.


By order of the Board
HLN Technologies Limited


Wa Kok Liang
Director

THE INITIAL PUBLIC OFFERING OF THE SHARES OF HLN TECHNOLOGIES LIMITED WAS SPONSORED BY WESTCOMB CAPITAL PTE LTD ("THE MANAGER"). THE MANAGER ASSUMES NO RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT.