PROPOSED DISPOSAL OF 100% OF EQUITY STAKE IN CENGREEN GLOBAL SDN BHD BY PRESTIGE PACKAGES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF CENTURY BOND BHD, WHERE CENTURY BOND BHD IS A 98.9% SUBSIDIARY OF PERANGSANG PACKAGING SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF KUMPULAN PERANGSANG SELANGOR BERHAD
Pursuant to Paragraph 9.19(24) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Kumpulan Perangsang Selangor Berhad (“Perangsang Selangor” or “Company”), is pleased to announce that on 24 August 2018, Prestige Packages Sdn Bhd, a wholly-owned subsidiary of Century Bond Bhd, where Century Bond Bhd is an indirect 98.9%-owned subsidiary of Perangsang Selangor via Perangsang Packaging Sdn Bhd, had entered into a Share Sale Agreement with Global Highmarks Sdn Bhd to dispose of its entire 100% equity stake in Cengreen Global Sdn Bhd to Global Highmarks Sdn Bhd for a cash consideration of RM1,000,000.00 (“Proposed Disposal”).
Cengreen Global Sdn Bhd will cease to be an indirect subsidiary of the Company upon completion of the Proposed Disposal.
The Proposed Disposal is not expected to have any effect on issued 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 or persons connected to them, have any interest, direct or indirect, in the Proposed Disposal.
We will make further announcement on the development of the Proposed Disposal in due course.
This announcement is dated 24 August 2018.
|Company Name||KUMPULAN PERANGSANG SELANGOR BERHAD|
|Date Announced||24 Aug 2018|
|Category||General Announcement for PLC|