s 6 Allotment and issue of transferee holding company’s shares
6.—(1) The transferee holding company must, on the transfer date, allot and issue to SES shareholders as at the transfer date such number of new transferee holding company’s shares as amounting to $6 million in value for each SES share, with the exception of the SES shares held by any SES shareholder in involuntary liquidation as at 4 November 1998 including Associated Asian Securities (Pte) Limited (in liquidation). (2) No fraction of a new transferee holding company’s share may be allotted or issued to any SES shareholder. (3) The transferee holding company must, on the transfer date, allot and issue —(a) to SIMEX shareholders as at the transfer date, such number of new transferee holding company’s shares as amounting to $115,000 in value for each SIMEX share, with the exception of the SIMEX shares held by any SIMEX shareholder in involuntary liquidation as at 4 November 1998; and (b) to registered owners of SIMEX seats as at the transfer date, such number of new transferee holding company’s shares as amounting to $170,000 in value for each SIMEX seat. (4) No fraction of a new transferee holding company’s share may be allotted or issued to any SIMEX shareholder or any registered owner of a SIMEX seat. (5) The transferee holding company’s shares issued under this section is —(a) of such value as the Minister may, by notification in the Gazette, determine; and (b) issued as fully paid and deemed for the purposes of the Companies Act 1967 as if they had been paid‑up.