Bursa Announcements

Date : 13 September 2018

OTHERS SUNWAY BERHAD ("SUNWAY") - PROPOSED INTERNAL REORGANISATION

SUNWAY BERHAD

Type Announcement
Subject OTHERS
Description
SUNWAY BERHAD ("SUNWAY")
- PROPOSED INTERNAL REORGANISATION

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”).

Company No. of ordinary shares Consideration
Reptolink Sdn Bhd (“Reptolink”) 2 RM2.00
Galaxy Avenue Sdn Bhd (“Galaxy”) 2 RM2.00
                                               Total: 4 RM4.00


Reptolink was incorporated on 26 May 1997 and its issued and paid-up share capital is RM2/- comprising 2 ordinary shares. The principal activity of Reptolink is investment holding.

 

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


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