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Salcon Berhad ("Salcon") wishes to announce that Salcon (Perak) Sdn. Bhd. ("SPSB"), a 60% subsidiary of Salcon Engineering Berhad ("SEB"), which is a wholly-owned subsidiary of Salcon, has on 18 December 2007 issued 5 new ordinary shares of RM1.00 each in the capital of SPSB to the following parties ("Shares Issuance"):-
Allottees No. of Ordinary Shares
Pembinaan Punca Cergas Sdn Bhd 2
Dwitasik Construction Sdn Bhd 3
Following the Shares Issuance, the shareholding of SEB in SPSB has been diluted to 40% ("Dilution") and as such, SPSB shall cease to be a subsidiary of SEB.
The Dilution will not have any material effect on the earnings and net assets of Salcon Group for the financial year ending 31 December 2007.
None of the Directors and/or substantial shareholders of Salcon, or persons connected with them have any interest, direct or indirect, in the Shares Issuance.
This announcement is dated 18 December 2007. |
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