News

Transactions (Chapter 10 Of Listing Requirements): Non Related Party Transactions

BackJun 14, 2011
Date Announced : 14/06/2011  
Type : Announcement
Subject :
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS

Description :
Advance Synergy Berhad (“ASB”)
Proposed Disposal of the entire 49% equity interest in ACE Synergy Insurance Berhad by Advance Synergy Capital Sdn Bhd (“ASCAP”), a wholly-owned subsidiary of ASB, to ACE INA International Holdings, Ltd. for a total cash consideration of RM117.0 million (“Proposed Disposal”)
   
 

Announcement Details/Table Section :

Further to our announcement on 6 June 2011 with regard to the shareholders’ approval for the Proposed Disposal, we wish to announce that ASCAP has received the cash proceeds arising from the Proposed Disposal in exchange for the requisite documents provided by ASCAP pursuant to the court order dated 29 November 2010.

Subject to any court order that may be obtained against the Proposed Disposal in any further legal proceeding, the Proposed Disposal is deemed completed.

 

This announcement is dated 14 June 2011.