Announcements

Date : 05 December 2016

OTHERS ACQUISITION OF SHARES BY A SUBSIDIARY

PROTASCO BERHAD

Type Announcement
Subject OTHERS
Description
ACQUISITION OF SHARES BY A SUBSIDIARY

Protasco Berhad (“Company” or “PB”) wishes to announce that Protasco Development Sdn. Bhd. ("PDSB"), a wholly owned subsidiary of the Company has entered into a Share Sale Agreement with Asdion Berhad ("AB") to acquire 36% equity interest in the capital of Sun Rock Development Sdn. Bhd. ("SRDSB") (64% owned by PDSB) from AB, comprising 360,000 ordinary shares of RM1.00 each for a total consideration of RM1.00. Upon the acquisition, SRDSB shall become a 100% owned subsidiary company of PDSB.

The acquisition does not expect to have any material effect on net assets per share, gearing and share capital of the Company for the financial year ending 31 December 2016.

None of the directors and/or major shareholders of the Company and/or persons connected to them have any interest, direct or indirect, in the aforesaid acquisition.






Announcement Info

Company Name PROTASCO BERHAD
Stock Name PRTASCO
Date Announced 05 Dec 2016
Category General Announcement for PLC
Reference Number GA1-05122016-00028



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