General Announcement

20/09/2005

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 2005,15 September 2005 and 16 September 2005.


On behalf of the Board of Directors of SerSol, Southern Investment Bank Berhad is pleased to announce that on 16 September 2005, Samchem Sdn Bhd (Samchem) has remitted RM235,256.06 (equivalent to approximately USD62,336 based on exchange rate of USD1.00 : RM3.774 as at 16 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 Samchems 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 Samchems subscription in PTMS Shares, the authorised and issued and paid up share capital of PTMS have increased from Rp3,201,054,720 (or equivalent to USD337,664 ) divided into 337,664 PTMS Shares to Rp3,792,000,000 (or equivalent to USD400,000) comprising 400,000 PTMS Shares.

This announcement is dated 20 September 2005.


Announcement Info

Company NameSERSOL TECHNOLOGIES BERHAD (MESDAQ Market) 
Stock Name SERSOL
Date Announced20 Sept 2005  
CategoryGeneral Announcement
Reference NoMI-050920-58989

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