Metronic's Delayed Transfer to the Main Board

By the looks of it, the transfer of Metronic-Global (MGB) to the main board will be delayed further as it may not be completed by the end of July which was originally the target period. The Securities Commission (SC) has approved all the modifications and variations sought.

• The transfer can now be implemented any time before 13 August 2007

• Listing and quotation for 12,250,000 new ordinary shares has been approved.

The SC's approval will be subject to the condition that HWANG DBS Investment Bank and MGB submit to the SC an undertaking to complete the placement of the remaining 7,500,000 MGB Shares by 17 August 2007, as proposed.

So, until all these new measures are undertaken, there will very unlikely be any vigorous market action on this counter until after July 2007.

Heartsong