OTHERS LATITUDE TREE HOLDINGS BERHAD ("LTHB" OR "THE COMPANY") - Internal Re-organisation of Group Structure pursuant to Share Purchase Agreement
LATITUDE TREE HOLDINGS BERHAD |
Type | Announcement | ||||||
Subject | OTHERS |
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Description | LATITUDE TREE HOLDINGS BERHAD ("LTHB" OR "THE COMPANY") - Internal Re-organisation of Group Structure pursuant to Share Purchase Agreement |
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Pursuant to Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company wishes to announce that Linkage Creation International Co. Ltd. (“Linkage Creation”) had on 3 July 2017 entered into a Share Purchase Agreement with L-Tree Resources Sdn. Bhd. (“L-Tree”), both wholly-owned subsidiaries of the Company, for disposal of 2 ordinary shares, representing 0.000015% of the total registered capital of Latitude Tree Vietnam Joint Stock Company (“Latitude Tree Vietnam”) from Linkage Creation to L-Tree at a total consideration USD0.51 (equivalent to approximately RM2.18) (“Internal Re-organisation"). Upon completion of the Internal Re-organisation, L-Tree will hold 0.000015% in Latitude Tree Vietnam. The changes in LTHB Group Structure are presented as follows:
Latitude Tree Vietnam is a company incorporated in Vietnam and having its registered office at No. 29, Road DT 743, Song Than 2 Industrial Zone, Tan Dong Hiep Ward, Di An Town, Binh Duong Province, Vietnam. The paid-up share capital of Latitude Tree Vietnam is VND135,234,000,000.00 consisting of 13,523,400 ordinary shares with a par value of VND10,000.00 each. The Internal Re-organisation will not have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the Company for the financial year ended 30 June 2017. None of the Directors and/or major shareholders of the Company and/or persons connected with them have any interest direct or indirect in the Internal Re-organisation. The Board of Directors of the Company, having taken into consideration all aspects of the above, is of the opinion that the Internal Re-organisation is in the best interest of the Company. This announcement is dated 3 July 2017. |
Announcement Info
Company Name | LATITUDE TREE HOLDINGS BERHAD |
Stock Name | LATITUD |
Date Announced | 03 Jul 2017 |
Category | General Announcement for PLC |
Reference Number | GA1-03072017-00031 |