News
Advance Synergy Berhad ("ASB") - Proposed Return Of Surplus Capital By United Merchant Group Berhad ("UMG") To UMG's Shareholders From Part Of The Proceeds From Sale Of Investments By UMG
BackMay 25, 2001
| General Announcement Reference No CU-010525-62407 |
| Submitting Merchant Bank | : | Not Applicable |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 25/05/2001 |
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| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB") - PROPOSED RETURN OF SURPLUS CAPITAL BY UNITED MERCHANT GROUP BERHAD ("UMG") TO UMG'S SHAREHOLDERS FROM PART OF THE PROCEEDS FROM SALE OF INVESTMENTS BY UMG |
Contents :
The Board of Directors of ASB is pleased to inform that the Board of Directors of UMG (a 50.75% owned subsidiary of ASB) has proposed that UMG undertakes an exercise to return at least 90 sen per share to UMG's shareholders subject to finalisation of further investment plans and the approval of UMG's shareholders, the relevant authorities and the High Court of Malaya (where applicable).
UMG is also actively seeking further investments to add to its business portfolio.
Further details of the proposed cash distribution and other investment proposals will be provided by UMG in due course.
(This announcement is dated 25 May 2001).