RFM Stockholders Approve Equity Fund Raising

In a special meeting held January 27, 2011, the stockholders of RFM Corp. (PSE: RFM) have approved the proposed equity fund raising of the company, which consists of a placing and subscription transaction to be implemented in two concurrent stages comprising of (a) the offer and sale by existing shareholder/s not exceeding 450 million of their existing shares in the corporation; and (b) as part of the transaction, the subscription by the selling shareholder/s and the issuance by the corporation to the selling shareholders, of unissued common shares at most in the same number and share price as the shares sold in the placement tranche, with such new common shares being listed as soon as practicable thereafter.