BURSA ANNOUNCEMENTS

Date : 03 March 2017

OTHERS SUNWAY BERHAD ("SUNWAY") - SUBSCRIPTION AND SHAREHOLDERS AGREEMENT BETWEEN SUNWAY HOLDINGS SDN BHD, MR ALAN OW WUI KIAT, MR ERMAN AKINCI AND MONUMENTAL PRODUCTIONS SDN BHD

SUNWAY BERHAD

Type Announcement
Subject OTHERS
Description
SUNWAY BERHAD ("SUNWAY")
- SUBSCRIPTION AND SHAREHOLDERS AGREEMENT BETWEEN SUNWAY HOLDINGS SDN BHD, MR ALAN OW WUI KIAT, MR ERMAN AKINCI AND MONUMENTAL PRODUCTIONS SDN BHD

(Unless stated otherwise, all expressions used in this announcement shall carry the same meanings as defined in the announcement dated 7 November 2016.)

We refer to our announcement dated 7 November 2016 in relation to, inter alia, a Subscription and Shareholders Agreement (SSA") dated 7 November 2016 made between Sunway Holdings Sdn Bhd (SHSB), a wholly-owned subsidiary of Sunway, Mr Alan Ow Wui Kiat (Alan), Mr Erman Akinci (Erman) and Monumental Productions Sdn Bhd (JVCo) with the intention of establishing a joint venture via the JVCo to collaborate as partners for the purpose of investing in the Business through the JVCo as well as to regulate their respective rights and responsibilities towards the management of the Business and affairs of the JVCo.

Pursuant to the SSA, SHSB, Alan and Erman have on 3 March 2017, subscribed for a total of 1,999,998 ordinary shares in the JVCo for a total consideration of RM1,999,998.00. Consequently, the SSA was completed on 3 March 2017 in accordance with its terms and the JVCo has become a subsidiary of SHSB on even date.

This announcement is dated 3 March 2017.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 03 Mar 2017
Category General Announcement for PLC
Reference Number GA1-03032017-00020


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