Bursa Announcements
OTHERS SUNWAY BERHAD ("SUNWAY") - PROPOSED INTERNAL REORGANISATION
SUNWAY BERHAD |
Type | Announcement | ||||||||||||
Subject | OTHERS |
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Description | SUNWAY BERHAD ("SUNWAY") - PROPOSED INTERNAL REORGANISATION |
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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 City Sdn Bhd (“SunCity”), a wholly-owned subsidiary of the Company has on 13 September 2018, acquired the following ordinary shares, representing the entire issued and paid-up share capital of the undermentioned companies from Sunway Holdings Sdn Bhd for a total cash consideration of RM4/- (“Proposed Reorganisation Exercise”).
Galaxy was incorporated on 5 June 1997 and its issued and paid-up share capital is RM2/- comprising 2 ordinary shares. The principal activity of Galaxy is property investment.
Upon completion of the Proposed Reorganisation Exercise, Reptolink and Galaxy have become direct subsidiaries of SunCity.
The Proposed Reorganisation Exercise is not expected to have any effect on the issued and paid-up share capital of Sunway or Sunway’s major shareholders’ shareholdings or any material effect on the earnings, net assets or gearing of Sunway on a consolidated basis.
None of the directors or major shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the Proposed Reorganisation Exercise.
This announcement is dated 13 September 2018. |
Announcement Info
Company Name | SUNWAY BERHAD |
Stock Name | SUNWAY |
Date Announced | 13 Sep 2018 |
Category | General Announcement for PLC |
Reference Number | GA1-07082018-00013 |