VARD HOLDINGS LIMITED
(Incorporated in the Republic of Singapore)
(Registration No. 201012504K)
INCORPORATION OF SUBSIDIARY, VARD ELECTRO ITALY SRL
The Board of Directors of Vard Holdings Limited (the "Company") wishes to announce the
incorporation of a new subsidiary, Vard Electro Italy Srl, in Italy.
Vard Electro Italy Srl is owned 100% by Vard Electro AS, 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 deliver turn-key electrical solutions to other parts of the Fincantieri Group. The paid-up
capital of the said company is EUR 200,000.
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 21 July 2015 to the
SGX.