Proposed Disposal of 49% Equity Interest in Cross Continental Investment ("CCI") And 813,802 Preference Shares In Palm Tech India Limited ("Palm Tech") For A Total Cash Consideration Of RM24,000,000.00 ("Proposed Disposal")
BackJul 16, 2007
| General Announcement |
| Reference No CC-070710-42233 |
| Company Name |
:
|
SALCON BERHAD |
| Stock Name |
:
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SALCON |
| Date Announced |
:
|
16/07/2007 |
 |
|
|
| Type | : | Announcement |
| Subject | : | Proposed disposal of 49% Equity Interest in Cross Continental Investment ("CCI") and 813,802 Preference Shares in Palm Tech India Limited ("Palm Tech") for a total cash consideration of RM24,000,000.00 ("Proposed Disposal") |
Contents :
The announcement dated 3 July 2007 refers.
Salcon Berhad ("Salcon") wishes to inform that Salcon Engineering Berhad ("SEB"), a wholly-owned subsidiary, has on 16 July 2007 entered into a supplementary agreement with Blair's Finance Group Limited ("BFG") to vary the terms and conditions of the Sale & Purchase Agreement ("SPA") dated 3 July 2007, whereby the consideration for the 49% equity interest in CCI has been increased to RM24,000,000.00 for SEB agreeing to waive all its rights and interests in the Palm Tech Preference Shares.
This announcement is dated 16 July 2007.