OTHERS SUNWAY BERHAD ("SUNWAY") - PROPOSED INTERNAL REORGANISATION
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”).
The details of STSB, SRH, SMC and SLC are as follows:-
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.
|Company Name||SUNWAY BERHAD|
|Date Announced||04 Mar 2019|
|Category||General Announcement for PLC|