Increase in investment

12 Apr 2006 07:00

Holders Technology PLC12 April 2006 Holders Technology plcIncrease in investment Holders Technology plc announces that it has increased its stake in its HongKong based subsidiary, Topgrow Technologies Limited (Topgrow), from 60% to 70%by the purchase, for £55,000, of the shares and loans currently held by anothershareholder. Topgrow's core business is selling materials to Chinese based PCB manufacturers.Topgrow also has a 60% owned subsidiary, Waysky Technology Limited, whichsells solder mask to the PCB industry, and a 40% stake in the sub-contractdrilling provider, Sino Pacific Limited. Topgrow is in the process of forming anew Wholly Owned Foreign Enterprise (WOFE) in the Huanan region of China, whichshould enable the company to expand its trade with the electronics industry insouthern China. The establishment of the WOFE has been subject toadministrative delays. It is now expected that the company will be registered by31 May 2006. In the year to 30 November 2005, the Topgrow group had a turnover of HKD 12.1million (£845,000) and recorded a loss before tax of HKD 29,000 (£2,000). As at30 November 2005 Topgrow had shareholders' funds of HKD 6.4 million (£478,000). It is not expected that this transaction will have a material effect on groupearnings in the year to 30 November 2006. Enquiries: Jim ShawyerGroup Finance DirectorHolders Technology plcTel: +44 (0) 20 8731 4336 This information is provided by RNS The company news service from the London Stock Exchange