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Further to the announcement of 1 December 2009 on the execution of Co-operation Agreement with the People’s Government of Yizheng, Jiangsu Province, People’s Republic of China (“PRC”) for Water Integration Scheme in the Yizheng City and its Neighbourhoods, Salcon Berhad (“Salcon” or “the Company”) is pleased to announce that Jiangsu Salcon Water & Environmental Development Company Limited (“Purchaser”) has on 20 August 2010 entered into an Equity Transfer Agreement (“ETA”) with Wins Sun International Investment Company Limited (“Vendor”), Hong Kong, in relation to the acquisition of the entire equity interest in Yizheng Rong Xin Wastewater Treatment Company Limited (“RXWT”) for a total cash consideration of RMB44 million (approximately RM20.28 million, which was converted based on the exchange rate as at 20 August 2010 of RMB1 vs. RM0.461) (“Purchase Price”).
For full details of the announcement, kindly refer to the attached file. |
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