VARD HOLDINGS LIMITED
(Incorporated in the Republic of Singapore)
(Registration No. 201012504K)
INCORPORATION OF SUBSIDIARY, VARD ELECTRO CANADA INC.
The Board of Directors of Vard Holdings Limited (the “Company”) wishes to announce the
incorporation of a new subsidiary, Vard Electro Canada Inc., in Canada.
Vard Electro Canada Inc. is owned 100% by Vard Electro AS (“Vard Electro”), a wholly-owned
subsidiary of Vard Group AS which is 100% held by the Company. The main business of
the new subsidiary will be to enable Vard Electro to support clients in Canada with dedicated
system integration knowledge, and support Vard Electro’s growth in North America. The paid-up
capital of the said company is CAD 100,000.
The above investment is funded by internal resources and is not expected to have any material
impact on the earnings per share or the net tangible assets per share of the Company for the
current financial year.
None of the Directors and the controlling shareholders of the Company have any interest, direct
or indirect, in the above transaction.
BY ORDER OF THE BOARD
Submitted by Roy Reite, Executive Director and Chief Executive Officer, on 7 March 2016 to the
SGX.