General Announcement for PLC
27/08/2015OTHERS WINTONI GROUP BERHAD ("WINTONI" OR "THE COMPANY") - DISPOSAL OF SHARES IN A WHOLLY-OWNED SUBSIDIARY, WINTONI POWER SDN. BHD.TO TRISTAR TREASURE SDN. BHD.
WINTONI GROUP BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | WINTONI GROUP BERHAD ("WINTONI" OR "THE COMPANY") - DISPOSAL OF SHARES IN A WHOLLY-OWNED SUBSIDIARY, WINTONI POWER SDN. BHD.TO TRISTAR TREASURE SDN. BHD. |
1. INTRODUCTION
Pursuant to Rule 9.19(25) of Bursa Malaysia Securities Berhad ACE Market Listing Requirements, the Board of Directors of WINTONI wishes to announce that the Company had on 27 August 2015 enter into a Share Sale Agreement with Tristar Treasure Sdn. Bhd. to dispose of its entire shareholdings held in Wintoni Power Sdn. Bhd. (“WPSB”), a wholly-owned subsidiary of the Company, comprising of 10 ordinary shares of RM1/- each for the disposal consideration of RM20,000/- (Ringgit Malaysia: Twenty Thousand) only to Tristar Treasure Sdn. Bhd.
As a result, Wintoni Power Sdn. Bhd. has ceased to become a wholly-owned subsidiary of the Company.
2. INFORMATION OF WPSB
WPSB was incorporated in Malaysia under the Companies Act, 1965 on 25 November 2013. The present authorised share capital of WPSB is RM400,000/- divided into 400,000 ordinary shares of RM1.00 each and the paid-up share capital is RM10.00 divided into 10 ordinary shares of RM1.00 each.
The principal activity of WPSB is research and development in relation to energy saving product and services and general trading.
WPSB has not commenced operation.
3. FINANCIAL EFFECTS
The disposal of WPSB is not expected to have any material effects on the earnings or net assets of the Company for the financial year ending 31 December 2015.
4. DIRECTORS’ AND MAJOR SHAREHOLDERS’ AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER’S INTERESTS
None of the Directors and/or major shareholders or persons connected to them has any interests, direct or indirect, in the aforesaid acquisition.
5. STATEMENT BY THE BOARD OF DIRECTORS
The Board of Directors is of the opinion that the disposal is in the best interest of the Company.
This announcement is dated 27 August 2015.
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Announcement Info
Company Name | WINTONI GROUP BERHAD |
Stock Name | WINTONI |
Date Announced | 27 Aug 2015 |
Category | General Announcement for PLC |
Reference Number | GA1-27082015-00115 |