OTHERS ANCOM BERHAD - DISPOSAL OF SHARES IN WHOLLY-OWNED SUBSIDIARY
|Description||ANCOM BERHAD - DISPOSAL OF SHARES IN WHOLLY-OWNED SUBSIDIARY|
Ancom Berhad ("Ancom" or the "Company") wishes to announce that its wholly-owned subsidiary, Redberry Sdn. Bhd. ("Redberry") had, on 29 June 2017, entered into a Share Sale Purchase Agreement with Newsmakers Productions Sdn. Bhd. for disposal of 2,375,000 ordinary shares, representing 95% of the issued and paid-up share capital, in Unreserved Sdn. Bhd. ("Unreserved") for a total consideration of RM50,000 ("Proposed Disposal").
Upon completion of the Proposed Disposal, Unreserved shall cease to be a subsidiary of Redberry, which in turn a subsidiary of Ancom.
Further details of the Proposed Disposal are stated in the filed attached.
This announcement is dated 29 June 2017.