The Board of Directors of Dijaya wishes to announce that Tropicana Ivory Sdn Bhd (“TISB”), a 55% owned subsidiary of Tropicana Development (Penang) Sdn Bhd (“TDPSB”), which in turn is a 100% owned subsidiary of Dijaya, had on 7 December 2012:-
a) acquired two (2) existing ordinary shares of RM1.00 each in the share capital of Triple Three Properties Sdn Bhd (Company No. 1015560-P) (“TTPSB”), a shelf company for a cash consideration of RM2.00 only (the “Acquisition”); and
b) subscribed for five hundred and eighty three (583) new ordinary shares of RM1.00 each in TTPSB for a cash consideration of RM583.00 only (the “Subscription”),
in aggregate representing 100% of the total issued and paid-up share capital of TTPSB for a total cash consideration of RM585.00 only (the Acquisition and the Subscription are hereinafter collectively referred to as the “Investment”). As a result of the Investment, Dijaya has an effective 55% equity interest in TTPSB via TISB and TDPSB.
Further details of the Investment are set out in the attachment below.
This announcement is dated 7 December 2012.