The Board of Directors of SEB wishes
to announce that the Company had, on 20 May 2011, subscribed for 6 ordinary
shares of RM1.00 each representing 60% of the issued and paid-up share capital
of Seremban Mechanical Services Sdn Bhd (Company No: 945432-A) (Seremban
Mechanical) for a total cash consideration of Ringgit Malaysia Six only
(RM6.00) (Subscription of Seremban Mechanical Shares).
Seremban Mechanical was incorporated
in Malaysia
under the Companies Act, 1965 on 20 May 2011. The authorised share capital of Seremban
Mechanical is RM100,000.00 divided into 100,000 ordinary shares of RM1.00 each
and the total issued and paid-up share capital is RM10.00 divided into 10
ordinary shares of RM1.00 each. Seremban Mechanical is currently a dormant
company and its intended principal activity is manufacturing and fabrication of
process equipment such as unfired pressure vessels, heat exchangers, tanks,
silos and other machinery or parts including mechanical works, maintenance
services, shutdown works, supply of manpower in all kinds of industries.
The Subscription of Seremban
Mechanical Shares will not have any material impact on the earnings and net
assets of SEB Group for the financial year ending 31 December 2011.
None of the Directors, substantial shareholders and/or persons connected with
them have any interest, direct or indirect, in the Subscription of Seremban
Mechanical Shares.
This
announcement is dated 27 May 2011.