Others
| Type | Announcement |
| Subject | OTHERS |
| Description | Salcon Berhad ("Salcon" or "Company") Proposed Distribution to Shareholders of Salco |
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As set out in the announcement dated 12 September 2013 made by Hong Leong Investment Bank Berhad on behalf of the Board of Directors of Salcon ("Board"), the Company is undertaking the proposed disposals of the entire equity interests held in the following companies:-
(i) Salcon Darco Environmental Pte Ltd; (henceforth referred to as the "Proposed Disposals") Further to the Proposed Disposals, the Board wishes to inform that it is the intention of the Board to distribute part of the proceeds from the Proposed Disposals, of up to RM30.0 million to the shareholders of Salcon via a special dividend or other means, such as capital repayment, the method of which will be determined at a later stage, after taking into consideration, amongst others, the actual proceeds to be received from the Proposed Disposal ("Proposed Distribution"). The Proposed Distribution is conditional upon the completion of the Proposed Disposals and subject to obtaining all the requisite approvals. The Company will obtain the relevant approvals and announcement in accordance with the Main Market Listing Requirements will be made by the Company once the method of distribution is finalised and approval from the Board is obtained. Any excess in the actual amount utilised for the Proposed Distribution, would be adjusted to the amount of proceeds from the Proposed Disposals allocated for the working capital of the Group. This announcement is dated 11th November 2013. |
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Announcement Info
| Company Name | SALCON BERHAD |
| Stock Name | SALCON |
| Date Announced | 11 Nov 2013 |
| Category | General Announcement |
| Reference No | CK-131108-62669 |