Resolution Passed At The Extraordinary General Meeting ("EGM") Held On 20 August 2004
20th Aug, 2004  
Pursuant to Rule 704(14) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors is pleased to announce that at the EGM held on 20 August 2004, the following ordinary resolution set forth in the Notice of EGM dated 4 August 2004 was duly passed: -

"The Company and its subsidiaries, Shakey's, Incorporated and Shakey's of California be and are hereby authorized to sell, transfer or otherwise dispose of the Sale Assets (as defined in the Circular accompanying this Notice) to The Jacmar Companies, Shakey's Restaurants Franchising Company, LLC and Jacmar Covina, LLC for an aggregate consideration of US$4,500,000."

Submitted by Jennifer Lee Siew Jee, Company Secretary on 20/08/2004 to the SGX