WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR PLENITUDE BERHAD ("PLENITUDE" OR "THE COMPANY") - DISSOLUTION OF PINE MIDOSUJI HOTEL KK AND PINE MIDOSUJI REAL ESTATE TMK, INDIRECT OWNED SUBSIDIARIES OF THE COMPANY
PLENITUDE BERHAD |
Type | Announcement |
Subject | WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR |
Description | PLENITUDE BERHAD ("PLENITUDE" OR "THE COMPANY") - DISSOLUTION OF PINE MIDOSUJI HOTEL KK AND PINE MIDOSUJI REAL ESTATE TMK, INDIRECT OWNED SUBSIDIARIES OF THE COMPANY |
The Board of Directors of Plenitude wishes to announce that on 25 May 2021, Extraordinary General Meetings of Pine Midosuji Hotel KK (“KK”) and Pine Midosuji Real Estate TMK (“TMK”) have been convened with approvals duly resolved for the dissolution of KK and TMK respectively towards the completion of liquidation.
KK and TMK were incorporated in Japan with issued and paid up capital of JPY10,000 and JPY100,000 respectively for the purpose of the proposed investment in a 21-storey hotel in Osaka, Japan. Due to the termination of the conditional Trust Beneficiary Interest Sale and Purchase Agreement on 20 January 2021, there is no future plans to activate both companies.
The dissolution of KK and TMK will not has a material effect on the earning or net assets of the Plenitude Group for the financial year ending 30 June 2021.
None of the Directors or substantial shareholders of Plenitude or persons connected with them, has any interest, direct or indirect, in the said dissolution.
This announcement is dated 25 May 2021. |
Announcement Info
Company Name | PLENITUDE BERHAD |
Stock Name | PLENITU |
Date Announced | 25 May 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-24052021-00097 |