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Date : 18 April 2013

OTHERS JOBSTREET CORPORATION BERHAD ("JCB" OR "THE COMPANY") - RE-ORGANISATION OF GROUP STRUCTURE

JOBSTREET CORPORATION BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionJOBSTREET CORPORATION BERHAD ("JCB" OR "THE COMPANY")
- RE-ORGANISATION OF GROUP STRUCTURE
1. INTRODUCTION
      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 JCB will re-organise its group structure by transferring the entire equity interest in the following companies currently held by JCB to JobStreet.com Pte Ltd (“JSG”), a wholly-owned subsidiary of the Company at book value respectively (the “Re-organisation”):-

      Name of company
      Equity interest currently held by JCB
      No. of Ordinary Shares to be transferred
      Book value as at 18 April 2013 (RM)
      PT JobStreet Indonesia (“PTJS”)
      60%
      240 ordinary shares of USD1,000.00 each
      884,080.00
      Agensi Pekerjaan JS Staffing Services Sdn Bhd (“APJSS”)
      100%
      50,000 ordinary shares of RM1.00 each
      50,000.00

      Upon completion of the Re-organisation, PTJS will be the 60% owned subsidiary of JSG and APJSS will be the wholly-owned subsidiary of JSG.

2. INFORMATION OF JSG
      JSG is a wholly-owned subsidiary of the Company incorporated in Singapore. The principal activities of JSG are the provision of online recruitment and human resource management services.

3. INFORMATION OF PTJS
      PTJS is incorporated in Indonesia. The principal activities of PTJS are the provision of online recruitment and human resource management services.


4. INFORMATION OF APJSS
      APJSS is incorporated in Malaysia. The principal activities of APJSS are the recruitment, executive search and employment agent for all levels of manpower.


5. RATIONALE FOR THE RE-ORGANISATION
      The rationale for the Re-organisation is to streamline the Company and its subsidiaries’ (the “Group”) recruitment services operations by aligning all of the Company’s subsidiaries with recruitment services operations under a single holding company.


6. APPROVALS REQUIRED
      The Re-organisation is not subject to the approval of the shareholders of the Company and any other relevant authorities and/or persons.


7. EFFECTS OF THE RE-ORGANISATION
    The 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 ending 31 December 2013.


8. DIRECTORS’ AND SUBSTANTIAL SHAREHOLDERS’ INTEREST
      None of the Directors and/or substantial shareholders of the Company and/or persons connected with them have any interest direct or indirect in the Re-organisation.


9. STATEMENT BY BOARD OF DIRECTORS
      The Board of Directors of the Company, having taken into consideration all aspects of the above, is of the opinion that the Re-organisation is in the best interest of the Group.


This announcement is dated 18 April 2013.

Announcement Info

Company NameJOBSTREET CORPORATION BERHAD  
Stock Name JOBST    
Date Announced18 Apr 2013  
CategoryGeneral Announcement
Reference NoCC-130417-60641