TRF Limited has informed that the board of directors of TRF Singapore Pte. Ltd. (hereinafter referred to as "TRFS") and TRF Holdings Pte. Ltd. (hereinafter referred to as "TRFH') (both being wholly owned subsidiary of TRF Limited)  at its meeting recommended the sale / divestment of the entire shareholding in step down subsidiary York Transport Equipment (Asia) Pte Limited (Company Registration No 198900157E) having its registered office at 122 Pioneer Road, Singapore 639583 (hereinafter referred as "York").

The Committee of Directors of TRF Limited(hereinafter referred to as "TRF" or "Company") based on the directives of its Board of Directors, at its meeting, accepted the recommendation, being the shareholder of TRFS and TRFH.

The Shares of York are held by the following two subsidiaries of the company:

a)    TRF Singapore Pte. Ltd. (Company Registration No 200718178D) holding12,870,941 ordinary shares representing 51% of the share capital of York; and

b)    TRF Holdings Pte. Ltd.(Company Registration No 201202468E) holding 12,366,198 ordinary shares representing 49% of the share capital of York.

The Committee of Directors of TRF based on recommendation and suggestion by TRFS and TRFH and subject to the approval of shareholders of TRF Limited also provide their consent for the divestment of the entire stake in York by its subsidiaries TRFS and TRFH.