Salcon berhad ("Salcon" Or "Company") Proposed Acquisition of 74.165% of Oriental Capital Assurance Berhad For A Total Cash Consideration Of RM129,805,536 ("Proposed Acquisition")

BackFeb 22, 2008
General Announcement
Reference No MM-080222-64473

Submitting Merchant Bank
:
 MIMB INVESTMENT BANK BERHAD 
Company Name
:
 SALCON BERHAD 
Stock Name
:
 SALCON
Date Announced
:
 22/02/2008


Type
:
 Announcement
Subject
:
SALCON BERHAD ("Salcon" or "Company")

PROPOSED ACQUISITION OF 74.165% OF ORIENTAL CAPITAL ASSURANCE BERHAD FOR A TOTAL CASH CONSIDERATION OF RM129,805,536 ("PROPOSED ACQUISITION")

Contents
:
We refer to the announcements dated 28 August 2007, 14 September 2007, 2 October 2007, 4 October 2007 and 24 October 2007 in relation to the Proposed Acquisition.

On behalf of the Board of Directors of Salcon, MIMB Investment Bank Berhad wishes to announce that Salcon has requested for an extension of time to complete the Share Sale Agreement dated 28 August 2007 entered into between the Company and Maika Holdings Berhad in relation to the Proposed Acquisition which expires on 22 February 2008.

An announcement shall be made in due course on the development of the aforesaid proposed extension.

This announcement is dated 22 February 2008.

Announcement Details :