| Contents |
:
|
The Board of Directors of ASB wishes to announce that Calmford has acquired the entire issued and paid-up share capital of Visage ("Visage Shares") held through Excellent Display Sdn Bhd, a wholly-owned subsidiary of ASB (hereinafter referred to as "Proposed Reorganisation").
Visage, presently a dormant company, will house the back office functions of Advansa Pty Ltd ("Advansa"), a wholly-owned subsidiary of ASB (held through Calmford) in Australia. Advansa is principally engaged in manufacturing and marketing of builder hardware products.
The entire issued and paid-up capital of Visage comprising 100 ordinary shares of RM1.00 each will be disposed to Calmford at a nominal cash consideration of RM100.00. The Visage Shares will be acquired free from all liens, pledges, charges, mortgages and any other encumbrances whatsoever with all rights attached thereto including any dividend, bonus or rights issue that may be declared as from the date of completion of the Proposed Reorganisation.
The Proposed Reorganisation has no effect on the share capital and major shareholders' shareholdings of ASB as it does not involve any issuance of securities.
The Proposed Reorganisation is not expected to have any material impact on the earnings per share and net assets per share of ASB Group for the financial year ending 31 December 2008.
None of the directors, major shareholders and/or persons connected with the directors and major shareholders of ASB has any interest, direct or indirect, in the Proposed Reorganisation.
[This announcement is dated 3 July 2008] |
|
