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The Board of Directors of ASB wishes to announce that ASB had acquired 100% equity interest in DATAKEY, comprising 2 ordinary shares at RM1.00 each for a cash consideration of RM2.00 (“Proposed Acquisition”) from its subsidiary, iSynergy Sdn Bhd, free from any encumbrances.

The Proposed Acquisition is part of the internal reorganisation in streamlining the human resource management.

The Proposed Acquisition will not have any material effect on the net assets, gearing and earnings per share of ASB Group for the financial year ending 31 December 2019 and there will not be any effect on the share capital and substantial shareholders’ shareholding in ASB as the Proposed Acquisition does not involve any issuance of shares or other securities by ASB.

The Proposed Acquisition is not subject to any approval of the shareholders of ASB or any relevant government authorities.

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.

The Board of Directors, after due consideration of all aspects of the Proposed Acquisition, is of the opinion that the Proposed Acquisition is in the best interest of ASB Group.

This announcement is dated 2 January 2019.

Announcement Info