Proposed Subscription of 1,026,000 New Ordinary Shares Of RM1.00 Each In Eco-Tours Sdn. Bhd.

BackJan 14, 2011
Date Announced
:
 14/01/2011  




Type
:
 Announcement
Subject
:
PROPOSED SUBSCRIPTION OF 1,026,000 NEW ORDINARY SHARES OF RM1.00 EACH IN ECO-TOURS SDN. BHD.

Contents
:
Introduction

The Board of Directors of Salcon is pleased to announce that Salcon Capital Sdn. Bhd. (“SCSB”), a wholly-owned subsidiary of the Company had on 14 January 2011 entered into a Shares Subscription Agreement with Eco-Tours Sdn. Bhd. (“Eco-Tours”) and Eco-NGT Sdn. Bhd. (“Eco-NGT”) (“Existing Sole Shareholder of Eco-Tours”) to subscribe for 1,026,000 new ordinary shares of RM1.00 each (“Subscription”) in the issued and paid-up share capital of Eco-Tours which represents 51.3% of the share capital of 2,000,000 ordinary shares of RM1.00 each

Announcement Details :

Details of Eco-Tours

Eco-Tours is a private limited company with an authorized share capital of RM2,000,000.00 divided into 2,000,000 ordinary shares of RM1.00 each of which 974,000 ordinary shares have been issued and fully paid-up.

The principal activity of Eco-Tours is in the business of transportation services.

Financial Effects

The Subscription will not have any material effect on the earnings and net assets of the Group for the financial year ending 31 December 2011, and the share capital of the Company.

Directors’ and Major Shareholders’ Interest

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any interest whether direct or indirect, in the above.

This announcement is made pursuant to Paragraph 10.05 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad. The highest percentage ratio for the above transaction is 0.6%.