Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 31 Oct 2012
Category: General Announcement
Reference Number: OI-121031-42085
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
PRIVATISATION OF MAJOR SUBSIDIARY, LIPO CORPORATION BERHAD (“LIPO”) BY WAY OF A SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE UNDER SECTION 64 OF THE COMPANIES ACT, 1965 UNDERTAKEN BY LIPO (“SCR”)
We refer to the announcements made by OSK Investment Bank Berhad (“OSK”), on behalf of the Board of Directors of Kobay Technology Bhd. (“Kobay”) (“Board”) on 22 March 2012, 23 March 2012 and 9 May 2012.
On 30 October 2012, Lipo has announced that the cheques for the capital repayment pursuant to the SCR has been despatched to the entitled shareholders of Lipo on even date.
In view of the above, on behalf of the Board, OSK wishes to announce that the SCR was completed on 30 October 2012. As such, Lipo is now a wholly-owned subsidiary of Kobay.
This announcement is dated 31 October 2012.