General Announcement for PLC
28/05/2018TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PARLO BERHAD (FORMERLY KNOWN AS CYBERTOWERS BERHAD) ("PARLO" OR "COMPANY") - PROPOSED SUBSCRIPTION OF 350,000 NEW ORDINARY SHARES IN TRAVEL IDEAS ONLINE SDN. BHD. WHICH WOULD RESULT IN TRAVEL IDEAS ONLINE SDN. BHD. BECOMING A 70%-OWNED SUBSIDIARY OF PARLO VIA PIONEER STREAMS CONSOLIDATED SDN. BHD. ("PROPOSED SUBSCRIPTION")
PARLO BERHAD |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | PARLO BERHAD (FORMERLY KNOWN AS CYBERTOWERS BERHAD) ("PARLO" OR "COMPANY") - PROPOSED SUBSCRIPTION OF 350,000 NEW ORDINARY SHARES IN TRAVEL IDEAS ONLINE SDN. BHD. WHICH WOULD RESULT IN TRAVEL IDEAS ONLINE SDN. BHD. BECOMING A 70%-OWNED SUBSIDIARY OF PARLO VIA PIONEER STREAMS CONSOLIDATED SDN. BHD. ("PROPOSED SUBSCRIPTION") |
Reference is made to the announcements dated 28 February 2018 and 27 April 2018 in relation to the Proposed Subscription. Unless otherwise defined, the definitions set out in the earlier announcements in relation to the Proposed Subscription shall apply herein. The Board wishes to announce that the last of the Conditions Precedent have been fulfilled and/or obtained on 28 May 2018. In accordance with the Subscription Agreement, the Proposed Subscription shall be completed within 10 working days from 28 May 2018. Upon this, Travel Ideas Online Sdn. Bhd. will become a 70% owned subsidiary of Pioneer Streams Consolidation Sdn. Bhd., which in turn is a wholly-owned subsidiary of Parlo. This announcement is dated 28 May 2018. |
Announcement Info
Company Name | PARLO BERHAD |
Stock Name | PARLO |
Date Announced | 28 May 2018 |
Category | General Announcement for PLC |
Reference Number | GA1-24052018-00010 |
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