OTHERS RCE CAPITAL BERHAD ("RCE" OR "COMPANY") - ACQUISITION OF NEW SUBSIDIARY
| RCE CAPITAL BERHAD |
| Type | Announcement | ||||||||||||||||||||||||
| Subject | OTHERS | ||||||||||||||||||||||||
| Description | RCE CAPITAL BERHAD ("RCE" OR "COMPANY") - ACQUISITION OF NEW SUBSIDIARY | ||||||||||||||||||||||||
Pursuant to Paragraph 9.19(23) of Bursa Malaysia Securities Berhad Main Market Listing Requirements, RCE wishes to announce that the Company had on 13 August 2012 entered into various share sale agreements with the following vendors to acquire 100% equity interest in Urusan Ihsan Sdn Bhd (“UISB”) (Company No.: 1011795-D) comprising a total of 1,800,000 ordinary shares of RM1.00 each for a total cash consideration of RM18 million (“Acquisition”): Vendors No. of shares Percentage of equity in UISB (%) Consideration(RM) Dato’ Amran bin Mat Nor 150,000 8.33 1,500,000 Datuk Rozzanamoon Binti Rahmat 150,000 8.33 1,500,000 Mohd Jafni bin Mohd Alias 950,000 52.78 9,500,000 Sim Chee Kiong 550,000 30.56 5,500,000 1,800,000 100.00 18,000,000 The Acquisition will be funded via internally generated funds. UISB was incorporated in Malaysia on 29 July 2012 as a private limited company. Its present issued and paid-up share capital is RM1.8 million comprising 1,800,000 ordinary shares of RM1.00 each. The principal activity of UISB is the processing and administration of civil servants’ payroll collection system. Upon completion of the Acquisition, UISB will be a wholly-owned subsidiary of RCE. The Acquisition is not expected to have any material effect on the gearing, earnings and net assets per share of RCE for the financial year ending 31 March 2013 but is expected to contribute positively to the Group's earnings from its core business in future years. None of the Directors and major shareholders of RCE and/or persons connected to them have any interest, whether direct or indirect, in the Acquisition. This announcement is dated 14 August 2012. | |||||||||||||||||||||||||
Announcement Info
| Company Name | RCE CAPITAL BERHAD |
| Stock Name | RCECAP |
| Date Announced | 14 Aug 2012 |
| Category | General Announcement |
| Reference No | RC-120814-36801 |