OTHERS SUNWAY BERHAD ("SUNWAY") - INTERNAL REORGANISATION OF GROUP STRUCTURE
SUNWAY BERHAD ("SUNWAY") - INTERNAL REORGANISATION OF GROUP STRUCTURE
We wish to announce that pursuant to Chapter 9, Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Sunway South Quay Sdn Bhd (“SSQ”), a 60% owned subsidiary of Sunway Lagoon Sdn Bhd has on 6 March 2017, acquired 2 ordinary shares, representing 100% of the total issued and paid-up share capital of Era Primision Sdn Bhd (“EPSB”) from Sunway City (Penang) Sdn Bhd for a total cash consideration of RM2/- (“Reorganisation Exercise”). Sunway Lagoon Sdn Bhd and Sunway City (Penang) Sdn Bhd are both wholly-owned subsidiaries of Sunway City Sdn Bhd, which in turn is wholly owned by Sunway.
EPSB was incorporated on 21 April 1992 and it has a total number of 2 ordinary shares with issued and paid-up capital of RM2/-. EPSB is presently dormant and Its intended principal activity is car park operator.
Upon completion of the Reorganisation Exercise, EPSB has become a direct subsidiary of SSQ.
The Reorganisation Exercise is not expected to have any effect on the issued and paid-up capital of Sunway or Sunway’s substantial shareholders’ shareholdings or any material effect on the earnings, net assets or gearing of Sunway on a consolidated basis.
None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the Reorganisation Exercise.
This announcement is dated 6 March 2017.
|Company Name||SUNWAY BERHAD|
|Date Announced||06 Mar 2017|
|Category||General Announcement for PLC|