PARAMON

1.180

+0.03 (+2.6%)

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.

 




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