Announcements
Announcements
Date: 02 March 2017

OTHERS Cypark Resources Berhad ("CRB" or "the Company") - Subscription of shares in Cypark FMS Sdn. Bhd.


Type Announcement
Subject OTHERS
Description Cypark Resources Berhad ("CRB" or "the Company") - Subscription of shares in Cypark FMS Sdn. Bhd.

1.   Introduction

 

The Board of Directors of CRB wishes to announce that the Company had on 2 March 2017 subscribed for 10 ordinary shares fully paid-up in the capital of Cypark FMS Sdn. Bhd. (Company No. 1220321-W) ("CFMS") at a total cash consideration of RM10/- (Ringgit Malaysia: Ten) only ("the Subscription").

 

Following the Subscription, CFMS became a wholly-owned subsidiary of CRB.

 

2.   Purpose

 

The Subscription is to facilitate the CRB Group's participation in the business of providing operation and maintenance and facilities management services.

 

3.   Details of CFMS

 

CFMS was incorporated as a private company limited by shares on 2 March 2017. The paid-up share capital is RM10/- divided into 10 ordinary shares. CFMS will be principally engaged in the activitiy of investment holding and in the business of providing operation and maintenance and facilities management services.

 

4.   Financial effects

 

The Subscription is not expected to have any material effects on the earnings, gearing and net assets per share of CRB.

 

5.   Directors' and major shareholders' interests

 

None of the directors and/or major shareholders of CRB and/or persons connected with them have any interest, direct or indirect, in the Subscription.

 

6.   Statement by the Directors

 

The Board of Directors of CRB, having considered all aspects of the Subscription, are of the opinion that the Subscription is in the best interest of CRB.

 

This announcement is dated 2 March 2017.

		                            




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