Bursa Announcements

Date : 04 March 2019

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 has on 4 March 2019, disposed of the following ordinary shares held in the undermentioned companies to Sunway City Sdn Bhd (“SunCity”), its wholly-owned subsidiary for a total consideration of RM469,246,319/- (“Proposed Reorganisation Exercise”).

 

Company

No. of ordinary shares

Consideration (RM)

Sunway Treasury Sdn Bhd (“STSB”)

2,500,002

17,835,550.00

Sunway REIT Holdings Sdn Bhd (“SRH”)

2

2.00

Sunway Medical Centre Sdn Bhd (“SMC”)

131,120,845

444,378,409.00

Sunway Lagoon Club Berhad (“SLC”)

20,000 Class A

7,032,358.00

                                              Total:

 

469,246,319.00

 

 

 

 

 

 

 

 

 

 

The details of STSB, SRH, SMC and SLC are as follows:-

 

Company

Date of Incorporation

Issued and Paid-up Share Capital

Number of Ordinary Shares issued

Principal Activity

STSB

5 June 1997

RM2,500,002/-

2,500,002

Provision of financial services to its related companies

SRH

21 April 2000

RM2/-

2

Investment holding

SMC

27 April 1995

RM134,267,845/-

132,221,845

Operation of a medical centre

SLC

14 August 1989

RM2,400,000/-

20,000 Class ‘A’ and 4,000 Class ‘B’

Operation of a recreational club and the establishment, maintenance and provision of recreational facilities

 

Upon completion of the Proposed Reorganisation Exercise, STSB, SRH, SMC and SLC 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 4 March 2019.



Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 04 Mar 2019
Category General Announcement for PLC
Reference Number GA1-04032019-00071


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