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BURSA ANNOUNCEMENTS

Date : 11 December 2012

OTHERS TALIWORKS CORPORATION BERHAD ("Taliworks") - ACQUISITION OF BALANCE OF 50% EQUITY INTEREST IN PROLIFIC EQUITY SDN. BHD. ("PESB")

TALIWORKS CORPORATION BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionTALIWORKS CORPORATION BERHAD ("Taliworks")
- ACQUISITION OF BALANCE OF 50% EQUITY INTEREST IN PROLIFIC EQUITY SDN. BHD. ("PESB")
INTRODUCTION

Further to our announcement made on 8 April 2010 and pursuant to paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Taliworks is pleased to announce that Taliworks has, on 10
th December 2012, acquired a further fifty (50) ordinary shares of RM1.00 each in PESB (“the Acquisition”) for a cash consideration of RM50.00 only.
PESB was a 50% jointly-controlled entity of Taliworks. Following the Acquisition, PESB is now a wholly-owned subsidiary of Taliworks.

BACKGROUND INFORMATION

PESB was incorporated under the Companies Act, 1965 as a private limited company on 11 May 2009. PESB is presently dormant. The current authorised share capital of PESB is RM100,000 comprising of 100,000 ordinary shares of RM1.00 each of which 100 ordinary shares have been issued and paid-up.

Taliworks had previously on 8 April 2010, acquired one (1) ordinary share of RM1.00 in PESB for a cash consideration of RM1.00 only. On the same day, Taliworks also subscribed forty nine (49) ordinary shares of RM1.00 in PESB for a cash consideration of RM49.00 only representing 50% equity in PESB.

FINANCIAL EFFECTS OF THE ACQUISITION

The Acquisition does not have any effect on the share capital and substantial shareholdings of Taliworks and is not expected to have a material effect on the net assets, earnings and gearings of the Taliworks’ Group for the current financial year ending 31 December 2012.

DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTERESTS

None of the other Directors and/or Substantial Shareholders of the Company and/or persons connected with such Directors or Substantial Shareholders have any interest, direct or indirect in the Acquisition.

This announcement is dated 11 December 2012.



Announcement Info

Company NameTALIWORKS CORPORATION BERHAD  
Stock Name TALIWRK    
Date Announced11 Dec 2012  
CategoryGeneral Announcement
Reference NoCS-121211-65F57

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