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eBworx Limited - Additional Information

BackSep 25, 2001

The Board of Directors CSE Systems & Engineering ("the Company") wishes to provide additional information pursuant to the announcement dated 17/09/2001. The additional information that is inserted into the announcement dated 17/09/2001has been underlined and italicised.

The Board of Directors of CSE Systems & Engineering ("the Company") wishes to announce that as part of the restructuring exercise of the Company, the Company has acquired 1,270,975 issued and fully paid up ordinary shares of S$0.04 each and 11,051,725 issued and partially paid up (to 5%) ordinary shares of S$0.04 each from the employees of eBworx at their original price of subscription. This will bring the Company's ownership in eBworx to 84.45% from 70.33%.

The total acquisition price for the 1,270,975 issued and fully paid up ordinary shares of S$0.04 each and 11,051,725 issued and partially paid up (to 5%) ordinary shares of S$0.04 each amounts to S$524,897.16. The summary of the details of the acquisition is as follows:

		Sale Shares			*Price per Sales Share*		Consideration
	Name of Vendors	No. of Fully Paid Sales Shares	No. of Partly Paid Sales Shares	Total No. of Sales Shares	Price per Fully Paid Sales Share	Price per Partly Paid Sales Share	Consideration for Fully Paid Sales Shares	Consideration for Partly Paid Sales Shares	Total Consideration for all of the Sales Shares
					*S$/Share*	*S$/Share*	S$	S$	S$
(1)	Other Employees	337,375	6,072,625	6,410,000	0.52	0.026	175,435.00	157,888.25	333,323.25
(2)	Tan Wee Meng	933,600	4,979,100	5,912,700	0.162	0.0081	151,243.20	40,330.71	191,573.91
	Total	1,270,975	11,051,725	12,322,700			326,678.20	198,218.96	524,897.16

Published: Tuesday, 25 September 2001

Publication: SGX

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