Announcement Details/Table Section :
The Board of Directors of ASB wishes to announce that Advance Synergy Capital Sdn Bhd (“ASCAP”), a wholly-owned subsidiary of ASB, has acquired the remaining ordinary shares of RM1.00 each in iSynergy and SCSB (“Acquisition Shares”) not already owned by ASB or ASCAP from Interpay International Resources Ltd (“Interpay”) for a total cash consideration of RM360,001.00 as detailed below:-
|
Company
|
Issued and paid-up capital
(Number of Shares of RM1.00 each)
|
Equity Interest (%)
|
Consideration(RM)
|
|
iSynergy
|
2,450,000
|
20
|
1.00
|
|
SCSB
|
400,000
|
8
|
360,000.00
|
[Collectively referred to as “Proposed Acquisition”].
The Proposed Acquisition will enable ASB Group to own the entire equity interest in iSynergy and SCSB for better control of our Card and Payment Services Division.
Upon completion of the Proposed Acquisition, the effective equity interest of ASB in iSynergy and SCSB will be 100%.
Interpay is a private limited company incorporated in the British Virgin Islands and having its address at Columbus Centre Building, Wickhams Cay, P.O.Box 32444, Road Town, Tortola, British Virgin Islands.
The Acquisition Shares will be acquired free from all claims, charges, liens, encumbrances and equities whatsoever together with all rights attached thereto and all dividens, rights and distributions declared paid or made in respect thereof as at the date of completion of the Proposed Acquisition.
The Proposed Acquisition has no effect on the share capital and substantial shareholders’ shareholdings of ASB as it does not involve any issuance of securities.
The Proposed Acquisition 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 2012.
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 Acquisition save for the following:-
1) ASB holds 100% equity interest in ASCAP and 51% equity interest in iSynergy while ASCAP holds 29% equity interest in iSynergy; and
2) ASB holds 100% equity interest in ASCAP and 51% equity interest in SCSB while ASCAP holds 41% equity interest in SCSB.
This announcement is dated 1 June 2012.
|
