OTHERS INARI AMERTRON BERHAD - ACQUISITION OF 100% EQUITY INTEREST IN A NEWLY INCORPORATED COMPANY

INARI AMERTRON BERHAD

Type Announcement
Subject OTHERS
Description
INARI AMERTRON BERHAD
- ACQUISITION OF 100% EQUITY INTEREST IN A NEWLY INCORPORATED COMPANY

Pursuant to Paragraph 9.19(23) of Bursa Malaysia Securities Berhad’s Main Market Listing Requirements, the Board of Directors of Inari Amertron Berhad (“Inari” or “the Company”) wishes to announce that the Company had on 13 October 2016 acquired two (2) ordinary shares of RM1.00 each, representing 100% equity interest in a newly incorporated company, Inari Optical Technology Sdn Bhd (“IOT”), for a total cash consideration of RM2.00 (“Acquisition”). Arising from the Acquisition, IOT has become a wholly-owned subsidiary of Inari.

IOT is a private limited company newly incorporated in Malaysia on 4 October 2016  and its authorized capital is RM400,000 divided into 400,000 ordinary shares of RM1.00 each, of which 2 ordinary shares have been issued and fully paid-up. IOT is presently dormant and is intended for Inari’s future expansion in its core business of manufacturing, assembling and testing of optoelectronic and sensor components, modules and systems.

The Acquisition will not have any effect on the earnings and net assets of Inari for the financial year ending 30 June 2017.

None of the Directors and major shareholders of Inari and/or persons connected with them have any direct or indirect interest in the Acquisition.

This announcement is dated 13 October 2016.






Announcement Info

Company Name INARI AMERTRON BERHAD
Stock Name INARI
Date Announced 13 Oct 2016
Category General Announcement for PLC
Reference Number GA1-13102016-00018