General Announcement

01/07/2004

RCE CAPITAL BERHAD (RCE OR COMPANY) PROPOSED DISPOSAL BY RCE OF ITS ENTIRE 70% EQUITY INTEREST IN POS AD SDN BHD (POS AD) COMPRISING 10,269,000 ORDINARY SHARES OF RM1.00 EACH IN POS AD TO REKAWEB.COM SDN BHD (REKAWEB) FOR A TOTAL CASH CONSIDERATION OF RM11,000,000 (PROPOSED DISPOSAL)

RCE CAPITAL BERHAD

Type

Announcement
SubjectRCE CAPITAL BERHAD (RCE OR COMPANY)

PROPOSED DISPOSAL BY RCE OF ITS ENTIRE 70% EQUITY INTEREST IN POS AD SDN BHD (POS AD) COMPRISING 10,269,000 ORDINARY SHARES OF RM1.00 EACH IN POS AD TO REKAWEB.COM SDN BHD (REKAWEB) FOR A TOTAL CASH CONSIDERATION OF RM11,000,000 (PROPOSED DISPOSAL)

Contents :

We refer to the Circular to Shareholders dated 22 April 2004 and our announcement dated 25 June 2004.


On behalf of RCE, Commerce International Merchant Bankers Berhad wishes to announce that in accordance with the terms of the Sale and Purchase Agreement dated 24 February 2004 on the Proposed Disposal:

(i) the balance sum of the sale consideration of RM9,900,000 (Balance Sum) which remains payable by Rekaweb as at 1 July 2004 shall be subject to an interest of 10% per annum, calculated on the number of days elapsed from 2 July 2004 up to and inclusive of the day of actual payment; and

(ii) the Balance Sum shall be paid on or before 31 July 2004.

This announcement is dated 1 July 2004.


Announcement Info

Company NameRCE CAPITAL BERHAD  
Stock Name RCECAP
Date Announced1 Jul 2004  
CategoryGeneral Announcement
Reference NoMM-040701-54553

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