OTHERS TANCO HOLDINGS BERHAD ("TANCO" OR "THE COMPANY") PROPOSED SUBSCRIPTION OF 728,572 NEW ORDINARY SHARES IN HERBITEC (M) SDN BHD BY GENIUM CORPORATION SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF WORLD VACATION OWNERSHIP SDN BHD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF TANCO ("PROPOSED SUBSCRIPTION")
TANCO HOLDINGS BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | TANCO HOLDINGS BERHAD ("TANCO" OR "THE COMPANY") PROPOSED SUBSCRIPTION OF 728,572 NEW ORDINARY SHARES IN HERBITEC (M) SDN BHD BY GENIUM CORPORATION SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF WORLD VACATION OWNERSHIP SDN BHD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF TANCO ("PROPOSED SUBSCRIPTION") |
The Board of Directors of Tanco (“the Board”) wishes to announce that, Genium Corporation Sdn Bhd (Registration No. 199501025984 [355189-K]) (“Genium”), (a wholly-owned subsidiary of World Vacation Ownership Sdn Bhd (Registration No. 199501024134 [353338-H]) which in turn is a wholly-owned subsidiary of Tanco), had on 1 April 2021 entered into a Share Subscription Agreement (“SSA”) with Herbitec (M) Sdn Bhd (Registration No. 200601028376 [748132-A]) (“Herbitec”) to subscribe 728,572 new ordinary shares in Herbitec (“New Shares”) at RM 0.9608 each, representing 51% of the total enlarged share capital of Herbitec, at a total cash subscription price of RM700,012.00 (Ringgit Malaysia Seven Hundred Thousand and Twelve only) (“Subscription Price”) (“Proposed Subscription”).
Subsequent to the Proposed Subscription, Herbitec will become a 51% owned indirect subsidiary of the Company through Genium.
Please refer to the attachment for further details.
This announcement is dated 1 April 2021. |
Please refer attachment below.
Announcement Info
Company Name | TANCO HOLDINGS BERHAD |
Stock Name | TANCO |
Date Announced | 01 Apr 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-01042021-00076 |