Exchanges (Demutualisation and Merger) Act
(Chapter 99B, Section 8(1))
Direction of Minister under Section 8(1)
N 5
G.N. No. S 543/2000

(31st January 2002)
[1st November 2000]
The Deputy Prime Minister, BG (NS) Lee Hsien Loong, has directed that shares in Singapore Exchange Limited (the transferee holding company) in the number equal to the difference between one billion and the number of issued shares in Singapore Exchange Limited immediately after giving effect to its capital restructuring approved by its shareholders on 1st November 2000, shall be offered for subscription to SEL Holdings Pte Ltd (the special purpose company) at the par value of $0.01 per share.