Salcon Berhad (“Salcon” or “the Company”) is pleased to announce that Salcon Power Sdn Bhd, a wholly-owned subsidiary of Salcon Engineering Berhad which in turn is a wholly-owned subsidiary of Salcon Berhad had on 15 September 2011 subscribed for 10,000 ordinary shares of £1.00 each, representing the entire issued and paid-up share capital of Salcon Green Energy (UK) Limited (“SGNUK”), a company incorporated in United Kingdom, for a total cash consideration of £10,000 (“Subscription”). Subsequent to the Subscription, SGNUK shall become a wholly-owned subsidiary of Salcon Power Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company.
Information on SGNUK
SGNUK was incorporated on 15 September 2011 in United Kingdom. The issued and paid-up share capital is £10,000 comprising 10,000 ordinary shares of £1.00 each.
The principal activity of SGNUK is to carry on the business of renewal energy.
Financial Effects
The Subscription will not have any material effect on the earnings and net assets of the Company for the financial year ending 31 December 2011 and also the share capital of the Company.
Directors’ and Major Shareholders’ Interests
None of the Directors and/or major shareholders and/or persons connected with a Director or major shareholder of Salcon have any direct or indirect interests in the Subscription.
