General Announcement for PLC
28/08/2015TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WINTONI GROUP BERHAD ("WINTONI" OR "THE COMPANY") - PROPOSED DISPOSALS OF THE COMPANY OF ITS ENTIRE EQUITY INTEREST IN SHANGHAI WINNER ELECTRICAL CO., LTD. ("WINNER") AND SHANGHAI WINCO ELECTRICAL CO., LTD. ("WINCO") TO CASUARINA ADMINISTRATION INC. FOR A TOTAL CASH CONSIDERATION OF RM250,000
WINTONI GROUP BERHAD |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | WINTONI GROUP BERHAD ("WINTONI" OR "THE COMPANY") - PROPOSED DISPOSALS OF THE COMPANY OF ITS ENTIRE EQUITY INTEREST IN SHANGHAI WINNER ELECTRICAL CO., LTD. ("WINNER") AND SHANGHAI WINCO ELECTRICAL CO., LTD. ("WINCO") TO CASUARINA ADMINISTRATION INC. FOR A TOTAL CASH CONSIDERATION OF RM250,000 |
(For consistency purposes, the abbreviations and definitions used throughout this announcement are the same as those previously defined in the Company’s announcement made on 21 August 2015 in relation to the Proposed Disposals.) Referring to the Company's announcement dated 21 August 2015 (“the Announcement”), the Company hereby enclose the following additional information:- 1. The timeframe for full utilisation of proceeds. The proceed is intended to be utilised for the Wintoni Group’s working capital requirement which comprise, amongst others, the payment to suppliers and marketing, administrative and operating expenses. The company expected three (3) months to fully utilise the proceeds. 2. Whether the financial information of Shanghai Winner Electrical Co. Ltd and Shanghai Winco Electrical Co. Ltd as stated in section 2.1 and 2.2 respectively are audited. The financial information for FYE 2013 and FYE 2014 stated in Sections 2.1 and 2.2 of the Announcement have been audited by the local auditors and reviewed by Malaysia’s auditors. The financial information for FPE 2015 has been audited by Malaysia’s auditors. 3. The effect of the Proposed Disposal on net assets per shares and gearing of the Wintoni Group. As disclosed in Sections 5.3, the net assets per share after the Proposed Disposals will increases from 5.33 sen to 5.36 sen. There is no gearing effect on Wintoni with regards to the Proposed Disposals. This announcement is dated 28 August 2015 |
Announcement Info
Company Name | WINTONI GROUP BERHAD |
Stock Name | WINTONI |
Date Announced | 28 Aug 2015 |
Category | General Announcement for PLC |
Reference Number | GA1-28082015-00145 |