The Board of Directors of TTB wishes to announce that on 10 December 2014, the equity interest of Larut Overseas Ventures Sdn Bhd (Company No. 254439-X) (LOV), a wholly-owned subsidiary of the Company in its 50%-associate company, Larut Leisure Enterprise (Hong Kong) Limited (LLE), a company incorporated in Hong Kong, has been diluted to 1% (Dilution) following the subscription by IJM Properties Sdn Bhd (Company No. 100180-M) (IJMP), the other remaining 50% shareholder of LLE for an additional 148,470,000 ordinary shares of HK$1 each in LLE at a subscription price of HK$1 per share, representing 98% of the enlarged issued and paid-up share capital of LLE (Subscription). The new ordinary shares issued shall rank pari passu in all respects with the existing ordinary shares of LLE.
With the completion of the Subscription on 10 December 2014, IJMPs equity interest in LLE will be increased to 99%.
IJM Corporation Berhad (Company No. 104131-A) being a major shareholder of the Company is deemed interested in the Dilution and Subscription (Interested Major Shareholder) as it is also the major shareholder of IJM Land Berhad (Company No. 187405-T), which in turn holds 100% equity interest in IJMP which holds the other remaining 50% equity interest in LLE. Save as disclosed above, none of the directors, other major shareholders and/or persons connected with them, have any interest, direct or indirect, in the Dilution.
The Dilution will not have any material effect on the earnings or net assets per share of the Company for the financial year ending 31 January 2015.
This announcement is dated 10 December 2014.
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