Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions
| Type | Announcement | ||||||
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
||||||
| Description |
SALCON BERHAD ("SALCON" OR THE "COMPANY") PROPOSED DISPOSAL BY SALCON DEVELOPMENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF SALCON BERHAD (COMPANY), OF 80% EQUITY INTEREST IN ECO WORLD-SALCON Y1 PTY LTD (FORMERLY KNOWN AS SALCON DEVELOPMENT (AUSTRALIA) PTY LTD) TO FORTUNE QUEST GROUP LTD, A WHOLLY-OWNED SUBSIDIARY OF ECO WORLD INTERNATIONAL BERHAD FOR A DISPOSAL CONSIDERATION OF AUD120,000 ("PROPOSED DISPOSAL") |
||||||
|
We refer to the Company’s announcements dated 10 April 2017, 26 July 2017, 11 August 2017 and 29 August 2017 in relation to the Proposed Disposal. Unless otherwise stated, words and phrases used in this announcement shall have the same meanings as defined in the aforesaid announcements. On behalf of the Board, HLIB is pleased to announce that the Proposed Disposal has been completed today (“Completion”). Accordingly, Eco World-Salcon Y1 Pty Ltd (formerly known as Salcon Development (Australia) Pty Ltd) has become a 20% associate company of Salcon. Concurrently with the Completion, the following agreements have been entered into between the respective parties:
This announcement is dated 11 September 2017. |
|||||||
Announcement Info
| Company Name | SALCON BERHAD |
| Stock Name | SALCON |
| Date Announced | 11 Sep 2017 |
| Category | General Announcement for PLC |
| Reference Number | GA1-07092017-00062 |