LAMBO

0.025

(%)

Acquisition of additional 34,600,000 ordinary shares of K-Star Sports Limited (K-STAR), representing 5.43% of the issued and paid up capital of KSTAR (KSTAR Shares) for a total cash consideration of RM7,958,000 from open market (Acquisition)

LAMBO GROUP BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-31032021-00001
Subject Acquisition of additional 34,600,000 ordinary shares of K-Star Sports Limited (K-STAR), representing 5.43% of the issued and paid up capital of KSTAR (KSTAR Shares) for a total cash consideration of RM7,958,000 from open market (Acquisition)
Description 
LAMBO GROUP BERHAD (LAMBO or the Company)
INVESTMENT IN K-STAR SPORTS LIMITED (KSTAR)
Query Letter Contents

We refer to your Company’s announcement dated 26 March 2021, in respect of the aforesaid matter.

 

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

  1. A description of the business carried on by K-STAR.
  2. The net profits and net assets of K-STAR based on its latest audited consolidated accounts.
  3. The prospects of K-STAR.
  4. The rationale for the Acquisition including any benefit which is expected to accrue to the Lambo group from the business, financial and operational perspective.
  5. The risks in relation to the Acquisition.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully

LISTING

REGULATION

                                                                                                                                                                        

Cc : Market Surveillance Dept., Securities Commission (via fax)

The Company’s announcement dated 26 March 2021 (“Announcement”) and the Letter of Query from Bursa Malaysia Securities Berhad dated 31 March 2021 (Ref : IQL-31032021-00001) in relation to the acquisition of additional 34,600,000 ordinary shares of K-Star Sports Limited (K-STAR), representing 5.43% of the issued and paid up capital of KSTAR (KSTAR Shares) for a total cash consideration of RM7,958,000 from the open market (Acquisition) refers.  Unless otherwise stated, the terms used in this announcement shall have the same meaning as defined in the Announcement.

 

Please refer to attached file for the additional information required.

 

 

This announcement is dated 31 March 2021.

Please refer attachment below.

Attachments

Reply Query attachment - Investment in K-Star Sports Limited (KSTAR).pdf
96.2 kB


Announcement Info

Company Name LAMBO GROUP BERHAD
Stock Name LAMBO
Date Announced 31 Mar 2021
Category General Announcement for PLC
Reference Number GA1-31032021-00047


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