Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 19 Aug 2016
Category: General Announcement for PLC
Reference Number: GA1-19082016-00062
Type: Announcement
Subject: OTHERS
Description: Proposed Acquisition of additional equity interest in Kobay SCM (S) Pte. Ltd. by Lipo Corporation Sdn. Bhd.
The Board of Directors of Kobay Technology Bhd. (“Kobay”) wishes to announce that on 19 August 2016, Kobay’s wholly owned subsidiary, Lipo Corporation Sdn. Bhd. (Company no. 491485-V)(“Lipo”) has acquired 5,999 ordinary shares, representing 59.99% equity interest in KSCM from Kobay for a total consideration of RM1.2 million to be satisfied by issuance of 375,000 ordinary shares of RM1-00 each at an issue price of RM3-20 per share in the capital of Lipo, and 1 ordinary share representing 0.01% equity interest in KSCM for cash consideration of RM200-00 from Mr. Tommy Teh Guan Seng, who holds in trust for Kobay (hereinafter referred to as “Proposed Acquisition”).
Further details are herein attached.
This announcement is dated 19 August 2016.
Attachments :
Proposed Acquisition of equity interest in KSCM by Lipo .pdf