TANCO

0.150

+0.005 (+3.4%)

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