The Board of
Directors of Destini Berhad ( Destini or the Company ) wishes to announce
that the Company had on 5 August 2014 acquired one (1) ordinary share of RM1.00
each in Detrac Sdn Bhd (Company No. 1101831-X) ( Detrac ) from Dato Rozabil @
Rozamujib Bin Abdul Rahman at a total consideration of RM1.00 (Ringgit Malaysia
: One) only ( Acquisition ). Following the Acquisition, Destini would hold
50.0% of the total issued and paid up capital of Detrac and Detrac would become
a subsidiary of the Company.
Detrac was incorporated in Malaysia on 17 July 2014 with the authorised share
capital of RM1,000,000.00 divided into 1,000,000 ordinary shares of RM1.00
each. The present issued and paid-up share capital of Detrac is RM2.00 divided
into two (2) ordinary shares of RM1.00 each. Detrac has not commenced business
since its incorporation.
The intended principal activity of Detrac is to carry on the business of research and development of mechatronic system including the software customization, repair and
maintenance of electronic systems, support and consultation on system
development.
The Acquisition is not expected to have any material effect on the earnings and
net assets of the Company for the financial year ending 31 December 2014.
The Acquisition is not subject to the approval of the shareholders
of the Company or other relevant authorities.
Except for Dato Rozabil @ Rozamujib Bin Abdul Rahman, who is a director and
major shareholder of Destini and also the director and shareholder of Detrac,
none of the directors and/or major shareholders of the Company and/or persons
connected with them has any interest, direct or indirect in the Acquisition.
This announcement is dated 5 August 2014.