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Salcon Berhad (“Salcon” or “the Company”) has on 12 February 2010 acquired one (1) ordinary share of HK$1.00 representing 100% equity interest in Kingstone Enterprise Group Limited (“KEG”), a shelf company incorporated in Hong Kong, for a consideration of HK$1.00. With the acquisition, KEG is a wholly-owned subsidiary of the Company.
The authorised share capital of KEG is HK$10,000.00 divided into 10,000 ordinary shares of HK$1.00 each, and its principal activity is investment holding.
The acquisition will not have any significant effect on the earnings or net assets of Salcon Group for the financial year ending 31 December 2010, and the share capital of the Company.
None of the Directors and/or substantial shareholders of the Company or persons connected with them have any interest, direct or indirect, in the acquisition. |
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