News
Advance Synergy Berhad ("ASB") Proposed Acquisition By ASB Of The Remaining 50% Equity Interest Comprising 3,000,000 Ordinary Shares Of RM1.00 Each In Diversified Gain Sdn Bhd ("DG") From Berjaya Group Berhad ("BGB") For A Cash Consideration Of RM300,000.00 ("Proposed Acquisition")
BackJul 06, 2004
| General Announcement Reference No AS-040706-63679 |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 06/07/2004 |
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| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB") Proposed Acquisition by ASB of the remaining 50% equity interest comprising 3,000,000 ordinary shares of RM1.00 each in Diversified Gain Sdn Bhd ("DG") from Berjaya Group Berhad ("BGB") for a cash consideration of RM300,000.00 ("Proposed Acquisition") |
Contents :
Further to our announcement on 28 May 2004 in respect of the Proposed Acquisition, we wish to announce that having obtained the requisite approval from the Ministry of Tourism vide their letter dated 5 July 2004 for the change in shareholding and board of DG and/or the licencee in respect of the Inbound/Travel Agent Licence held by DG's wholly-owned subsidiary, Inter-Pacific Travel & Tours (Sabah) Sdn Bhd [held via Inter-Pacific Travel & Tours Sdn Bhd, a wholly-owned subsidiary of DG], all the conditions precedent as set out in the agreement dated 9 December 2003 made between ASB and BGB ("Agreement") have been fulfilled and the Agreement shall cease to be conditional. Consequently, the parties will proceed to complete the Proposed Acquisition in the manner as set out in the Agreement and as varied by the parties by letters dated 6 July 2004. Upon completion, DG would become a wholly-owned subsidiary of ASB.
(This announcement is dated 6 July 2004)