Thank you very much.

The Board of Directors of Baker Technology Limited (the “Company”) refers to the announcements dated 17 April 2010 and 23 April 2010 (the “Earlier Announcements”) in relation to the Proposed Disposal.

Capitalised terms used in this announcement shall have the same meanings as defined in the Earlier Announcements unless the context requires otherwise.

 The Company has today received, inter alia, further letters from SCM and their lawyers continuing with their assertions that the Proposed Disposal triggers the pre-emption rights of SCM as set out in, inter alia, PPL Shipyard’s Articles of Association and have purportedly exercised such rights. The Board wishes to reiterate that it has sought and received legal advice that SCM has no basis for its claims.

The Company will keep Shareholders apprised of any material developments, where appropriate.

By Order of the Board Baker Technology Limited

Aw Seok Chin

Company Secretary 29 April 2010

WHY  they exit ?

YANGZIJIANG  BUY  AGREEMENT  IS  BINDING

FUTURE  is STiLL  iNTACT

NORMAL  SITUATION  wOuld  have  a  WARRANT  PREMIUM   of   say  S$0.010  instead.

That is,      S$0.255  vs  S$0.565

instead  of  S$0.205  vs  S$0.565

I met a group of BAKER TECH  warrant unit  holders yesterday.

They have obtained the CONFIRMATION REPLY  from  BAKER TECH  IR as follows:

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Please see replies below in red.

There are some questions that I can’t answer as I do not have the complete set of information regarding your warrant holdings. Thus it would be good to ask Baker Tech’s warrant agent—Boardroom Corporate Advisory at  6536 5355; they will be able to offer further assistance.

Thanks.

Regards,

Junli

6236 6894

Begin forwarded message:

From:
Date: April 21, 2010 18:09:26 GMT+08:00
To: <enquiry@bakertech.com.sg>
Subject: * BAKER TECH  W121116 WARRANT *  [EXERCISE PRICE  S$0.320]

 

Dear  Sir / Madam

 

Good day!

 

When can  W121116 Warrant  holder convert their  warrants to  BAKER TECH Ordinary Shares?

 

The warrants can exercise at any time till 16 Nov 2012, which is the expiry date of the warrant.

 

What are the conversion procedure and steps ?

 

Baker Tech’s warrant agent: Boardroom Corporate Advisory (Tel: 6536 5355) will send you a exercise notice form for you to complete. Payment will have to be sent to Boardroom Corporate Advisory as well, but made payable to Baker Technology Limited.

 

Can the payment for Exercise Price be made in personal cheque ?

 

No.

 

Payment can be paid by made by a remittance of Banker’s Draft or Cashier Order drawn on a bank operating in Singapore; debiting the warrant holder’s CPF investment account with the CPF approved bank; combination of the two methods mentioned previously.

 

Can the conversion be made now ?

 

Conversion can be made any time you like actually.

 

How long will the conversion take ?

 

Please seek advice from Boardroom Advisory.

 

How to register the converted shares with the CDP ?

 

Please seek advice from Boardroom Advisory.

 

When can the converted shares start trading ?

 

When you have received the letter of notification from CDP, or when the shares are in the “free” balance of your securities account.

 

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