SOP

3.770

-0.01 (-0.3%)

OTHERS INTERNAL REORGANISATION OF GROUP STRUCTURE

SARAWAK OIL PALMS BERHAD

Type Announcement
Subject OTHERS
Description
INTERNAL REORGANISATION OF GROUP STRUCTURE

INTRODUCTION

 

The Board of Directors of Sarawak Oil Palms Berhad (“SOPB”) wishes to announce that on 16 December 2020, an internal restructuring involving the transfer of its entire shareholding of 100,000 ordinary shares in a wholly-owned subsidiary, SOP Developments Sdn. Bhd. (“SOP Developments”), which is currently dormant, to another wholly owned subsidiary, SOP Industries Sdn. Bhd. (“SOP Industries”) at the total consideration of RM1.00.

 

INFORMATION ON SOP DEVELOPMENTS SDN. BHD.

 

SOP Developments was incorporated on 25 November 2009 and its paid-up share capital is RM100,000.00. SOP Developments is currently a dormant company.

 

INFORMATION ON SOP INDUSTRIES SDN. BHD.

 

SOP Industries was incorporated on 09 January 2007 and its paid-up share capital is RM126,176,500. The principal activity of SOP Industries is investments holding.

 

DETAILS OF THE INTERNAL REORGANISATION

 

The following diagram summarises the changes in the SOPB Group’s structure before and after the Internal Reorganisation

(Please refer to the attachment herewith for diagram and announcement details)

 

RATIONALE FOR THE INTERNAL REORGANISATION

 

SOP Industries is principally engaged in investment holding. SOP Developments which is currently dormant, will be utilised to undertake investments/projects to be determined by SOPB Group.

 

EFFECTS OF THE INTERNAL REORGANISATION

 

The Internal Organisation will not have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholdings of SOPB Group for the financial year ending 31 December 2020.

 

APPROVAL REQUIRED

 

The Internal Reorganisation is not subject to the approval of the shareholders of the Company or any other authorities.

 

INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSON CONNECTED TO THEM

 

None of the Directors, major shareholders of the Company and/or persons connected with them has any interest, direct and/or indirect, in the Internal Reorganisation.

 

This announcement is dated 16 December 2020.

 




Please refer attachment below.



Announcement Info

Company Name SARAWAK OIL PALMS BERHAD
Stock Name SOP
Date Announced 16 Dec 2020
Category General Announcement for PLC
Reference Number GA1-16122020-00062