General Announcement
29/06/2006ACQUISITION OF 10,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING THE REMAINING 12.5% OF THE EQUITY INTEREST IN RCE ENTERPRISE SDN. BHD. NOT OWNED BY RCE CAPITAL BERHAD FROM MERIDIAN MODE SDN. BHD. FOR A PURCHASE CONSIDERATION OF RM15,000,000 WHOLLY SATISFIED VIA ISSUANCE OF 67,415,730 NEW ORDINARY SHARES OF RM0.10 EACH AT AN ISSUE PRICE OF RM0.2225 PER SHARE ("ACQUISITION")
| RCE CAPITAL BERHAD |
|
Type | Announcement |
| Subject | ACQUISITION OF 10,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING THE REMAINING 12.5% OF THE EQUITY INTEREST IN RCE ENTERPRISE SDN. BHD. NOT OWNED BY RCE CAPITAL BERHAD FROM MERIDIAN MODE SDN. BHD. FOR A PURCHASE CONSIDERATION OF RM15,000,000 WHOLLY SATISFIED VIA ISSUANCE OF 67,415,730 NEW ORDINARY SHARES OF RM0.10 EACH AT AN ISSUE PRICE OF RM0.2225 PER SHARE ("ACQUISITION") |
Contents :
We refer to the announcement made on 10 March 2006 in relation to the Securities Commissions ("SC") approval on the Acquisition and one of the conditions imposed by SC whereby RCE is required to discuss with the Foreign Investment Committee ("FIC") regarding a Bumiputera equity condition previously imposed by FIC on RCE Marketing Sdn Bhd ("RCEM"), an indirect subsidiary of RCE held via RCE Enterprise Sdn Bhd, and to inform SC on the status of compliance of the said condition.
On behalf of the Board of Directors of RCE, Malaysian International Merchant Bankers is pleased to announce that the FIC has, vide their letter dated 21 June 2006 (which was received on 28 June 2006), agreed to waive the minimum 30% Bumiputera equity condition imposed on RCEM by the FIC vide its letter dated 7 March 2003 subject to RCEM remains as an indirect subsidiary of RCE.
This announcement is dated 29 June 2006.
Announcement Info
| Company Name | RCE CAPITAL BERHAD |
| Stock Name | RCECAP |
| Date Announced | 29 Jun 2006 |
| Category | General Announcement |
| Reference No | MM-060629-67679 |
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