Date : 05 February 2016

OTHERS PROPOSED DISPOSAL OF MRCB'S ENTIRE 40% EQUITY INTERESTS IN EKOVEST-MRCB JV SDN BHD AND EKOVEST-MRCB CONSTRUCTION SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM8.5 MILLION

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
PROPOSED DISPOSAL OF MRCB'S ENTIRE 40% EQUITY INTERESTS IN EKOVEST-MRCB JV SDN BHD AND EKOVEST-MRCB CONSTRUCTION SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM8.5 MILLION

PROPOSED DISPOSAL OF MRCB’S ENTIRE 40% EQUITY INTEREST IN EKOVEST-MRCB JV SDN BHD AND EKOVEST-MRCB CONSTRUCTION SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM8.5 MILLION

MRCB wishes to announce that it has today entered into a Shares Sale  Agreement (“SSA”) with  Ekovest Berhad to dispose  its entire 40% equity interests in the following companies to Ekovest Berhad for a total cash consideration of RM8.5 million (“Proposed Disposal”):

(i)              40% equity interest in Ekovest-MRCB JV Sdn Bhd comprising 40,000 Ordinary Shares of RM1.00 each and  2,160,000 Redeemable Preference Shares (“RPS”) of RM0.01 each; and

(ii)             40% equity interest in Ekovest-MRCB Construction Sdn Bhd comprising 800,000 Ordinary Shares of RM1.00 each.

The detailed announcement is attached herewith.




Please refer attachment below.

Attachments

2016 ekovest-mrcb jv2.pdf
286.7 kB



Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 05 Feb 2016
Category General Announcement for PLC
Reference Number GA1-05022016-00057