KNM Group Berhad (KNM or the Company) is pleased to announce that its wholly-owned group subsidiary, KNM Process Equipment Inc. (KNMPEI), has on 16 February 2015 fully subscribed and completed its subscription of One (1) Class C ordinary share in relation to the incorporation of 1840355 Alberta Ltd (Alberta) for a total cash consideration of CAD1.00 only (equivalent to RM2.87) (Investment).
Alberta was incorporated as a private limited company in Edmonton, Alberta, Canada on 11 August 2014. It is currently dormant but will be principally involved as an investment holding company.
The Investment in Alberta is not expected to have any material effect on KNMs earnings and net assets for the financial year ending 31 December 2015.
None of the Directors, major shareholders or persons connected to the Directors and/or major shareholders of the Company has any interest, direct or indirect, in the Investment.
This announcement is dated 16 February 2015.