The Board of Directors of MCB wishes to announce that MCB had on 15 July 2019 incorporated a private company limited by shares in Malaysia under the Companies Act 2016 known as Silver Solar Sdn Bhd (“SSSB”).
SSSB is a special purpose vehicle company of MCB incorporated to carry out the business of developing, financing, constructing, operating and maintaining solar photovoltaic (“PV”) project(s).
The present share capital of SSSB is Ringgit Malaysia Two (RM2.00) comprising two (2) ordinary shares which have been subscribed and fully paid-up at a subscription price of RM1.00 each by MCB. As a result of the said subscription of shares, SSSB has become a wholly-owned subsidiary of the Company.
The incorporation of SSSB will not have any material effect on the share capital, substantial shareholders’ shareholdings, earnings per share and net assets of the Company for the financial year ending 31 December 2019.
None of the Directors and/or major shareholders and/or persons connected to them has any interest, direct or indirect, in the incorporation of SSSB.
This announcement is dated 15 July 2019.