TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PROPOSED INVESTMENT BY MAGNA INTELLIGENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF PARAMOUNT CORPORATION BERHAD, IN THE HOLDING COMPANY OF A PEER-TO-PEER FINANCING PLATFORM OPERATOR
PARAMOUNT CORPORATION BERHAD |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
Description | PROPOSED INVESTMENT BY MAGNA INTELLIGENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF PARAMOUNT CORPORATION BERHAD, IN THE HOLDING COMPANY OF A PEER-TO-PEER FINANCING PLATFORM OPERATOR |
The Board of Directors of Paramount Corporation Berhad (Paramount) wishes to announce that Magna Intelligent Sdn Bhd (MISB), a wholly-owned subsidiary of Paramount, has, on this 15 April 2021, entered into a conditional share subcription agreement and a shareholders’ agreement with P2P Venture Sdn Bhd and Omegaxis Sdn Bhd in connection with the proposed investment of RM13,700,000.00 by MISB for a 30% direct equity interest in the holding company of a peer-to-peer financing platform operator.
Please refer to the attachment for further details.
This announcement is dated 15 April 2021.
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Please refer attachment below.
Announcement Info
Company Name | PARAMOUNT CORPORATION BERHAD |
Stock Name | PARAMON |
Date Announced | 15 Apr 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-15042021-00036 |