INTRODUCTION

Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company wishes to announce that the Company had on 16 May 2019 acquired one (1) ordinary share, representing 100% equity interest in Greentech Paramount Sdn Bhd (Company No. 1322688-V) ("GPSB"), a shelf company incorporated in Malaysia, for a cash consideration of RM1.00 ("Acquisition").

Following the Acquisition, GPSB shall become a wholly-owned subsidiary of LBALUM.

INFORMATION ON GPSB

GPSB was incorporated on 17 April 2019 in Malaysia under the Companies Act 2016. The total share capital and number of issued share of GPSB are RM1.00 and one (1) ordinary share respectively. Its intended principal activity is investment holding.

FINANCIAL EFFECTS

The Acquisition does not have any effect on the share capital and substantial shareholders’ shareholdings of LBALUM. It is also not expected to have any material effect on the net assets per share, gearing and earnings per share of LBALUM for the financial year ending 30 April 2020.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST

None of the Directors and/or major shareholders and persons connected with the Directors and/or major shareholders of LBALUM has any interest, direct or indirect, in the Acquisition. 

This announcement is dated 16 May 2019.