General Announcement

19/12/2007

DAYA MATERIALS BERHAD (DMB or the Company) PROPOSED ACQUISITION BY MERIDIAN ORBIT SDN. BHD.(MOSB), A 60%-OWNED SUBSIDIARY OF DAYA MATERIALS BERHAD OF 275,000 ORDINARY SHARES OF RM1.00 EACH IN CLARIMAX CONSOLIDATED SDN BHD (CCSB) REPRESENTING 55% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF CCSB FOR A TOTAL CASH CONSIDERATION OF RM366,667 (PROPOSED ACQUISITION OF CCSB)

DAYA MATERIALS BERHAD

Type

Announcement
SubjectDAYA MATERIALS BERHAD (DMB or the Company)

PROPOSED ACQUISITION BY MERIDIAN ORBIT SDN. BHD.(MOSB), A 60%-OWNED SUBSIDIARY OF DAYA MATERIALS BERHAD OF 275,000 ORDINARY SHARES OF RM1.00 EACH IN CLARIMAX CONSOLIDATED SDN BHD (CCSB) REPRESENTING 55% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF CCSB FOR A TOTAL CASH CONSIDERATION OF RM366,667 (PROPOSED ACQUISITION OF CCSB)

Contents :

We refer to the announcement dated 16 October 2007 in relation to the above.


We are pleased to inform that the Foreign Investment Commission (FIC) had, vide its letter dated 17 December 2007 approved, amongst others, the above mentioned Proposed Acquisition of CCSB.

The approval of FIC is subject to the following conditions:-

i) CCSB to increase its Bumiputera equity shareholding to at least 30% before 31 December 2009;

    ii) MOSB to increase its paid-up share capital to at least RM100,000.00 within six (6) months from the date of the FIC approval.

    This announcement is dated 19 December 2007.


    Announcement Info

    Company NameDAYA MATERIALS BERHAD (MESDAQ Market) 
    Stock Name DAYA
    Date Announced19 Dec 2007  
    CategoryGeneral Announcement
    Reference NoCC-071219-A7418



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