OTHERS IOI PROPERTIES GROUP BERHAD ("IOIPG" OR THE "COMPANY") ACQUISITION OF A WHOLLY-OWNED SUBSIDIARY
| IOI PROPERTIES GROUP BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | IOI PROPERTIES GROUP BERHAD ("IOIPG" OR THE "COMPANY")
ACQUISITION OF A WHOLLY-OWNED SUBSIDIARY |
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The Board of Directors of IOIPG is pleased to announce that the Company had on 12 July 2016 acquired 2 ordinary shares of RM1.00 each, representing 100% of the total issued and paid-up share capital in Fortune Growers Sdn Bhd (“Fortune Growers”) for a total cash consideration of Ringgit Malaysia Two (RM2.00) only (the “Acquisition”). Following the Acquisition, Fortune Growers has become a wholly-owned subsidiary of IOIPG. Fortune Grower was incorporated on 8 June 2016 as a private limited company under the Companies Act, 1965 and is currently dormant. None of the Directors and/or Major Shareholders of IOIPG and/or persons connected to them has any interest, direct or indirect in the Acquisition. This announcement is dated 12 July 2016. |
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Announcement Info
| Company Name | IOI PROPERTIES GROUP BERHAD |
| Stock Name | IOIPG |
| Date Announced | 12 Jul 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-01072016-00056 |