Salcon berhad Offer from Godrej Agrovet limited ("GAVL") To Acquire the Following From Salcon Engineering Berhad ("SEB"), Our Wholly-owned Subsidiary:- (i) the entire Equity Interest of seb in Cross Continental Investment ("CCI"); And (ii) The Entire Preference Share Capital Of Seb In Palm Tech India Limited ("PTILl")
BackApr 05, 2007
| General Announcement |
| Reference No CC-070405-52709 |
| Company Name |
:
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SALCON BERHAD |
| Stock Name |
:
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SALCON |
| Date Announced |
:
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05/04/2007 |
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| Type | : | Announcement |
| Subject | : | SALCON BERHAD OFFER FROM GODREJ AGROVET LIMITED ("GAVL") TO ACQUIRE THE FOLLOWING FROM SALCON ENGINEERING BERHAD ("SEB"), OUR WHOLLY-OWNED SUBSIDIARY:- (I) THE ENTIRE EQUITY INTEREST OF SEB IN CROSS CONTINENTAL INVESTMENT ("CCI"); AND (II) THE ENTIRE PREFERENCE SHARE CAPITAL OF SEB IN PALM TECH INDIA LIMITED ("PTIL") |
Contents :
The Board of Directors of Salcon Berhad ("Salcon" or "the Company") wishes to announce that SEB had on 4 April 2007 accepted a conditional offer letter from GAVL, subject to a definitive agreement to be executed, to dispose the following investment for a total purchase consideration of RM24,000,000.00:-
(i) its entire equity interest in CCI, representing 49% of the issued and paid-up capital of CCI; and
(ii) its entire preference share capital in PTIL.
Further details of the terms and conditions of the disposal will be reflected in the definitive agreement.
This announcement is dated 5 April 2007