OTHERS SUNWAY BERHAD ("SUNWAY") - PROPOSED ACQUISITION OF COMPANY
SUNWAY BERHAD ("SUNWAY") - PROPOSED ACQUISITION OF COMPANY
We refer to our announcement dated 29 March 2019 in relation to the acquisition of 1,000,000 ordinary shares (“Sale Shares”) representing 100% of the total issued and paid-up share capital of Blacktop Industries Sdn Bhd (“BISB”) in 2 tranches by Sunway Holdings Sdn Bhd (“SunHoldings”), a wholly-owned subsidiary of Sunway, from Datin Sri Lau Lai San, Ms Chu Yuen Leng and Ms Chu Yuen Mun (“Proposed Acquisition”).
The first tranche of the Proposed Acquisition which comprises the acquisition of 60% equity interest in BISB at a consideration of RM42,054,927.46 was completed on 25 July 2019. Consequently, BISB will become a subsidiary of SunHoldings and its associated companies will become associated companies of SunHoldings upon the proper execution of the relevant documents and registration in relation to the share transfer.
This announcement is dated 25 July 2019.
|Company Name||SUNWAY BERHAD|
|Date Announced||25 Jul 2019|
|Category||General Announcement for PLC|