FDS Networks

FDS Networks: terminates last year’s proposed agreement to acquire 100% of Delta Advanced Materials, under mutual consent from the relevant parties. The group has since identified, and is now considering a new potential acquisition of a target company. However, due to confidentiality obligation, no further details can be provided. FDS is currently on the SGX Watchlist, and has to meet the requirements for removal from the Watchlist by 4 Sep 2013 or face delisting. The group has applied to SGX for a second extension of review date, to enable itself and its advisors to conduct and complete their legal and financial due diligence exercise in respect of the proposed new acquisition.