PURSUANT TO PARAGRAPH 9.19(23) OF THE BURSA MALAYSIA SECURITIES BERHADS MAIN MARKET LISTING REQUIREMENTS RE : FORMATION OF AN INDIRECT SUBSIDIARY
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Kumpulan Perangsang Selangor Berhad (“Perangsang Selangor” or “the Company”) wishes to announce that Kyco Industries, Inc. (“Kyco”), an indirect 60%-owned subsidiary of Perangsang Selangor, has on 22 January 2018 formed a wholly-owned subsidiary named King Koil Manufacturing West, LLC under the Delaware Limited Liability Company Act of the State of Delaware, the United States of America (“Formation”).
No initial capital contribution was made by Kyco in this limited liability company at this juncture.
The intended principal activities of King Koil Manufacturing West, LLC are to carry out the business of the production, sale and distribution of mattresses, related bedding and sleep products as well as any other activities necessary or incidental thereto.
The Formation is not expected to have any effect on the share capital and substantial shareholders’ shareholdings of Perangsang Selangor, there shall be no material effect on the earnings per share, net assets per share and gearing of Perangsang Selangor group for the financial year ending 31 December 2018.
None of the Directors and/or major shareholders of Perangsang Selangor and/or persons connected with them has any interest, direct or indirect, in the Formation.
This announcement is dated 23 January 2018.
|Company Name||KUMPULAN PERANGSANG SELANGOR BERHAD|
|Date Announced||23 Jan 2018|
|Category||General Announcement for PLC|