ACQUISITION OF SUBSIDIARIES |
The Board of Directors of Parkson Holdings Berhad ("Company") wishes to |
announce the following ("Acquisition of Subsidiaries"): |
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i) The Company had on 11 June 2008, subscribed for 1 ordinary share of US$1.00 |
each at an issue price of US$1.00 in Prime Yield Holdings Limited (?Prime |
Yield?) which is the legal and beneficial owner of the entire equity interest |
in Dyna Puncak Sdn Bhd ("Dyna Puncak"), the legal and beneficial owner of the |
entire equity interest in Idaman Erajuta Sdn Bhd ("Idaman Erajuta"); and |
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ii) Parkson Corporation Sdn Bhd, a wholly-owned subsidiary of the Company had |
on 11 June 2008, acquired 2 ordinary shares of RM1.00 each in Kiara Innovasi |
Sdn Bhd ("Kiara Innovasi"), for a total consideration of RM2.00. |
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Prime Yield, Dyna Puncak, Idaman Erajuta and Kiara Innovasi (collectively |
referred to as the "New Companies") have not commenced any operation of |
business and information on the said New Companies is set out in Table 1 below. |
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The Board wishes to announce that consequent thereto, the New Companies became |
wholly-owned subsidiaries of the Company. |
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The Acquisition of Subsidiaries does not have any material impact on the |
earnings of the Group for the financial year ending 30 June 2008 and the net |
assets of the Group based on the audited consolidated balance sheet as at 30 |
June 2007. |
You are advised to read the entire contents of the announcement or attachment. |
To read the entire contents of the announcement or attachment, please access |
the Bursa website at http://www.bursamalaysia.com . |