Bursa Announcements
Date : 26 November 2013
OTHERS SUNWAY BERHAD (“SUNWAY”) - ACQUISITION OF SHARES BY SUNWAY CITY SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF SUNWAY) IN DECO STYLE SDN BHD
| SUNWAY BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | SUNWAY BERHAD (“SUNWAY”) - ACQUISITION OF SHARES BY SUNWAY CITY SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF SUNWAY) IN DECO STYLE SDN BHD |
We wish to announce that pursuant to Chapter 9, Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Sunway City Sdn Bhd, a wholly-owned subsidiary of Sunway had on 26 November 2013, entered into a Share Purchase Agreement (“Share SPA”) with Shekel Enterprise Sdn Bhd (“Shekel”) for the purpose of acquiring 2,000,000 ordinary shares of RM1/- each, representing 100% of the total issued and paid-up share capital of Deco Style Sdn Bhd (“DSSB”) from Shekel for a total consideration of RM12,300,000/- . Upon completion of the acquisition, DSSB and its 80% owned subsidiary, namely Sunway Design Sdn Bhd (“SDSB”) will become subsidiaries of Sunway. DSSB was incorporated on 6 April 1981 and its authorised and paid-up share capital are RM5,000,000/- and RM2,000,000/- respectively. The principal activity of DSSB is that of a specialist contractor in renovation of commercial projects. SDSB was incorporated on 24 September 1985 and its authorised and paid-up share capital are RM500,000/- respectively. The principal activity of SDSB is that of an interior decorator and contractor. None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the aforesaid acquisition. This announcement is dated 26 November 2013. | |
Announcement Info
| Company Name | SUNWAY BERHAD |
| Stock Name | SUNWAY |
| Date Announced | 26 Nov 2013 |
| Category | General Announcement |
| Reference No | SS-131126-58DDD |