News
Advance Synergy Berhad (1225-D) ("ASB") United Merchant Group berhad (286452-T) ("UMG" Or "The Company") Proposed Disposal Of The Entire Issued And Paid-Up Share Capital Of United Merchant Finance Berhad ("UMF"), Comprising 229,000,000 Ordinary Shares Of RM1.00 Each To Southern Bank Berhad ("SBB") For Cash ("Proposed Disposal")
BackApr 25, 2000
| General Announcement Reference No MM-000425-65681 |
| Submitting Merchant Bank | : | PERDANA MERCHANT BANKERS BERHAD |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 25/04/2000 |
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| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD (1225-D) ("ASB") UNITED MERCHANT GROUP BERHAD (286452-T) ("UMG" or "the Company") Proposed Disposal Of The Entire Issued And Paid-Up Share Capital Of United Merchant Finance Berhad ("UMF"), Comprising 229,000,000 Ordinary Shares Of RM1.00 Each To Southern Bank Berhad ("SBB") For Cash ("Proposed Disposal") |
Contents :
We refer to the earlier announcement made on behalf of ASB and UMG dated 6 January 2000 in relation to the Proposed Disposal. On behalf of the Board of Directors of ASB and UMG, Perdana Merchant Bankers Berhad ("Perdana Bankers") is pleased to announce that the Securities Commission ("SC") has vide its letter dated 21 April 2000 approved the Proposed Disposal which is subject to, amongst others, the following conditions:-
(i) UMG is to obtain the SC's approval for their proposed utilisation of proceeds from the proposed disposal of UMF when the proposed utilisation has been determined; and
(ii) Full adherence to the relevant requirements under the SC's Policies and Guidelines on Issue/Offer of Securities
("Guidelines"), and in particular, Chapter 18 and 25 of the Guidelines.
UMG is a 50.75%-owned subsidiary of ASB, whereas UMF is a 100%-owned subsidiary of UMG.
This announcement is made on 25 April 2000.