OTHERS GLOBAL ORIENTAL BERHAD ("GOB") PROPOSED DISPOSAL OF 91.7% EQUITY INTEREST IN STRATEGIC DELIGHT SDN BHD
|GLOBAL ORIENTAL BERHAD|
GLOBAL ORIENTAL BERHAD ("GOB") PROPOSED DISPOSAL OF 91.7% EQUITY INTEREST IN STRATEGIC DELIGHT SDN BHD
Pursuant to paragraph 9.19(24) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of GOB wishes to announce that Versatile Flagship Sdn Bhd (“Vendor”), a wholly-owned subsidiary of GOB, had on 13 February 2019 entered into a Share Sale Agreement with Kgrill Malaysia Sdn Bhd (“Purchaser”) for the disposal of 687,500 ordinary shares, representing 91.7% equity interest in Strategic Delight Sdn Bhd (“SDSB”) for a cash consideration of RM1.00 (“Proposed Disposal”).
SDSB is a private limited company incorporated in Malaysia under the Companies Act, 1965 on 6 July 2015, with an issued and paid-up share capital of RM1,299,517.00 consisting of 750,000 ordinary shares. SDSB is principally engaged in food and beverage business. Upon completion of the Proposed Disposal, SDSB shall cease to be a subsidiary of GOB.
The Proposed Disposal is not expected to have any material effect on the earnings and net assets of GOB Group.
None of the directors and/or major shareholders of GOB and/or persons connected to them have any interest, direct or indirect, in the Proposed Disposal.
This announcement is dated 13 February 2019.
|Company Name||GLOBAL ORIENTAL BERHAD|
|Date Announced||13 Feb 2019|
|Category||General Announcement for PLC|