MAS IMPOSES COMPOSITION AMOUNT OF $2,000 ON FRANKLIN RESOURCES, INC. FOR LATE NOTIFICATION TO THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGE IN SUBSTANTIAL SHAREHOLDINGS

1       On 4 December 2009, Franklin Resources, Inc. ["Franklin"] paid a composition amount of $2,000 for contravening section 137 of the Securities and Futures Act ["SFA"] which requires substantial shareholders of listed companies to notify the securities exchange of a change in shareholdings.

2       Franklin was late in notifying SGX-ST of its deemed shareholding change in Parkway Holdings Limited ["PHL"] which took place on 17 June 2009. Franklin was also late in notifying PHL of its deemed shareholding change. As a result, PHL was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

3       Franklin had previously accepted an offer of composition made by the Authority on 21 April 2006 for contraventions of section 137 of the SFA.

Substantial shareholders are required to notify the securities exchange of changes in their shareholdings in a timely manner. This is necessary for the proper functioning of a fair, efficient and transparent market.