General Announcement

16/09/2005

SERSOL TECHNOLOGIES BERHAD ( SerSol or the Company ) Formation of joint-venture ( JV ) company, PT. Multi Square

SERSOL TECHNOLOGIES BERHAD

Type

Announcement
SubjectSERSOL TECHNOLOGIES BERHAD ( SerSol or the Company )
Formation of joint-venture ( JV ) company, PT. Multi Square

Contents :

We refer to the Companys announcements dated 28 July 2005, 18 August 2005, 5 September 2005 and 15 September 2005.


On behalf of the Board of Directors of SerSol, Southern Investment Bank Berhad is pleased to announce that on 15 September 2005, TN Chemie Sdn Bhd (TN Chemie) has remitted RM235,443.07 (equivalent to approximately USD62,336 based on exchange rate of USD1.00 : RM3.777 as at 15 September 2005) to PT. Multi Square (PTMS) as payment for 62,336 PTMS Shares, each having nominal value of Rp9,480 or equivalent to USD1 each (PTMS Shares). This forms the remaining subscription of TN Chemies agreed number of PTMS Shares to be subscribed i.e., 80,000 PTMS Shares pursuant to the execution of the Deed of Establishment of Limited Liability Company, PTMS in the Republic of Indonesia on 11 May 2005.

As a result of TN Chemies subscription in PTMS Shares, the authorised and issued and paid up share capital of PTMS have increased from Rp2,610,109,440 (or equivalent to USD275,328 ) divided into 275,328 PTMS Shares to Rp3,201,054,720 (or equivalent to USD337,664) comprising 337,664 PTMS Shares.

This announcement is dated 16 September 2005.


Announcement Info

Company NameSERSOL TECHNOLOGIES BERHAD (MESDAQ Market) 
Stock Name SERSOL
Date Announced16 Sept 2005  
CategoryGeneral Announcement
Reference NoMI-050916-52097

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