Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 11 Jun 2015
Category: General Announcement for PLC
Reference Number: GA1-11062015-00075
Type: Announcement
Subject: OTHERS
Description: Completion of disposal of entire equity interest in Lipo Precision Industry (Suzhou) Co. Ltd. by wholly owned subsidiary, Lipo Corporation Sdn. Bhd.
An announcement has been made on 7 Jan 2015 (reference number : KT-150107-61727) by Kobay Technology Bhd. (“Kobay”), that its wholly owned subsidiary company, Lipo Corporation Sdn. Bhd. (“Lipo”), has entered into a Share Sale Agreement (“SSA”) to dispose of its entire equity interest in Lipo Precision Industry (Suzhou) Co Ltd. (“LPI”) to Messrs. Microform Technologies. Pte Ltd. (“Microform”) for a cash consideration of approximately RMB9.8million (“the Shares Disposal”).
The Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that on 9 June 2015, the aforementioned Shares Disposal transaction has been completed.
This announcement is dated 11 June 2015