General Announcement for PLC

03/08/2018

OTHERS PARLO BERHAD (FORMERLY KNOWN AS CYBERTOWERS BERHAD) (PARLO OR COMPANY) -SHORTFALL IN PROFIT GUARANTEE

PARLO BERHAD

Type Announcement
Subject OTHERS
Description 
PARLO BERHAD (FORMERLY KNOWN AS CYBERTOWERS BERHAD) (PARLO OR COMPANY) 
 -SHORTFALL IN PROFIT GUARANTEE
 
We refer to the Company's announcements dated 2 July 2018, 27 July 2018, 31 July 2018 and 1 August 2018. Unless otherwise defined, the definitions set out in the said announcements shall apply herein.

The Board of Directors of Parlo wishes to announce that the Profit Guarantor has informed that the Shortfall of RM1,261,280 will be settled entirely via the release of Parlo Shares owned by Thirty Keystone (“Profit Guarantee Settlement Shares”) to the Stakeholder (for the Stakeholder to sell to satisfy the said Shortfall). The Parties have mutually agreed that the valuation date shall be 2 August 2018 and based on the closing price quoted on Bursa Securities on valuation date of RM0.11 per Parlo Share, the number of Profit Guarantee Settlement Shares shall be 11,466,182 ordinary shares.

The Shortfall of RM1,261,280 shall be deemed fully settled upon the release of 11,466,182 Profit Guarantee Settlement Shares to the Stakeholder by the Profit Guarantor.

This announcement is dated 3 August 2018.



Announcement Info

Company Name PARLO BERHAD
Stock Name PARLO
Date Announced 03 Aug 2018
Category General Announcement for PLC
Reference Number GA1-03082018-00018


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Date Title
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