HMI - Rights on 24 Dec 2007

The Rights Issue is to be made on a renounceable non-underwritten basis to Entitled Shareholders on the basis of 2 Rights Shares for every 4 existing Shares held by Entitled Shareholders as at the Books Closure Date at an issue price of $0.05 for each Rights Share, fractional entitlements to be disregarded.

The Issue Price represents a discount of approximately 76.7% to the last transacted price of S$0.215 per Share on the Official List of the SGX-Sesdaq( now known as Catalist ) on 24 October 2007 ( being the last full trading day of the Shares prior to the announcement of the Rights Issue on 25 October 2007 ) and a discount of approximately 65.5% to the last transacted price of S$0.145 per Share ( traded on an ex-rights basis ) on the OfficialList of the SGX-Sesdaq( now known as Catalist ) as at 19 December 2007 ( being the last full trading day of the Shares prior to the Lastest Practicable Date).

Based on the Company's issued share capital of 343,686.600 Shares as at the Latest Practicable Date and assuming that there is no change to the Company's issued share capital by the Books Closure Date, the Company will issue up to 137,474,640 Rights Shares pursuant to the Rights Issue.


Expected Timetable of key events :
Shares trade ex-Rights - 19 Dec 2007
Book Closure Date - 24 Dec 2007
Despatch of the OIS, ARE and PAL - 28 Dec 2007
Commencement of trading of "nil-pad" rights - 28 Dec 2007
Last date and time for splitting - 8 jan 2008
Last day for trading of "nil-pad" rights - 8 Jan 2008
Last date and time for acceptance of and payment for Rights shares - 14 jan 2008
Last date and time for renunciation of and payment for Rights shares - 14 Jan 2008
Last date and time for application and payment for excess Rights shares - 14 Jan 2008

Application :
On 4 jan 2008
Applied 800 shares of rights = $40.00
Applied 4200 shares of excess rights = $210.00

Results :
A sum of $150 was returned to me. ( successfull application of $100 )
This means I was successful in getting
rights = 800
excess rights = 1200

a total of 2000 shares at a price of $100.00