General Announcement for PLC
28/07/2016OTHERS Acquisition 70% Equity Interest of Kita Mampan Sdn. Bhd.
O&C RESOURCES BERHAD |
Type | Announcement | ||||||||||||||||||
Subject | OTHERS |
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Description | Acquisition 70% Equity Interest of Kita Mampan Sdn. Bhd. |
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The Board of Directors of O&C Resources Berhad (“OCR” or the “Company”) wishes to announce that the Company has today 28 July 2016 ,acquired 70 ordinary shares of RM1.00 each representing 70% equity interest in the capital of Kita Mampan Sdn. Bhd. (“KMSB”) (formerly known as Damokles Sdn. Bhd.) for a cash consideration of RM70.00 from the following parties:-
Consequently KMSB became a 70% owned subsidiary of OCR. The remaining 30% equity interest of KMSB is held equally by Mr. Toh Foo Hing (15%) and Mampan Capital Sdn. Bhd. (15%). Both of them are not connected with the Directors or Substantial Shareholders of OCR. KMSB was incorporated in Malaysia on 20 August 2013 with an issued and paid up share capital of RM100.00 divided into 100 ordinary shares of RM1.00 each. KMSB has not commenced any business operation since the date of its incorporation. The intended principal activities of KMSB will be in the business of construction, real estate etc. KMSB has an associate company, AES Builders Sdn. Bhd. (“AES”), of which KMSB holds 490,000 ordinary shares of RM1.00 each fully paid up in the capital of AES which is equivalent to 49% equity interest. ABSB is currently a dormant company with an issued and paid up share capital of RM1.0 million. The intended principal activities of AES will be in the business of general contractor. In addition, none of the Directors and Substantial Shareholders or persons connected with the Directors or Substantial Shareholders of OCR has any interest, direct or indirect in the aforesaid acquisition. This announcement is dated 28 July 2016.
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Announcement Info
Company Name | O&C RESOURCES BERHAD |
Stock Name | OCR |
Date Announced | 28 Jul 2016 |
Category | General Announcement for PLC |
Reference Number | GA1-28072016-00101 |