OTHERS CENTURY LOGISTICS HOLDINGS BERHAD (“CENTURY”) - SUBSCRIPTION OF EQUITY INTEREST IN CENTURY ONSYS SDN. BHD. (FORMERLY KNOWN AS DWIALAM TEKNOLOGI SDN. BHD.) BY CENTURY LOGISTICS SDN. BHD. AND ONSYS ENERGY SDN. BHD.
| CENTURY LOGISTICS HOLDINGS BERHAD |
| Type | Announcement | ||||||
| Subject | OTHERS | ||||||
| Description | CENTURY LOGISTICS HOLDINGS BERHAD (“CENTURY”) - SUBSCRIPTION OF EQUITY INTEREST IN CENTURY ONSYS SDN. BHD. (FORMERLY KNOWN AS DWIALAM TEKNOLOGI SDN. BHD.) BY CENTURY LOGISTICS SDN. BHD. AND ONSYS ENERGY SDN. BHD. | ||||||
1. Introduction
Reference is made to the announcement dated 8 September 2011 in relation to the acquisition of 100% equity interest in Century Onsys Sdn. Bhd. ("Century Onsys") (formerly known as Dwialam Teknologi Sdn. Bhd.) by Century Logistics Sdn. Bhd. ("CLSB"), a wholly-owned subsidiary of Century. The Board of Century wishes to announce that CLSB had on 12 October 2011 subscribed 50,998 ordinary shares of RM1.00 each representing 51% of the enlarged issued and paid-up share capital of Century Onsys while Onsys Energy Sdn. Bhd. had on the same date subscribed 49,000 ordinary shares of RM1.00 each representing 49% of the enlarged issued and paid-up share capital of Century Onsys. Upon completion of the allotment of shares, the paid-up share capital of Century Onsys have been increased from RM2.00 to RM100,000.00, comprising 100,000 ordinary shares of RM1.00 each. 2. Financial Effects The subscription of shares in Century Onsys is not expected to have any material effect on the earnings per share, gearing and net assets per share of the Century Group. 3. Directors' and Major Shareholders' Interest Dr. Mohamed Amin Bin Mohd Kassim ("Dr. Mohamed Amin") and Datuk Jaafar Bin Mohamad ("Datuk Jaafar"), the directors of Century are also the directors of Onsys Energy Sdn. Bhd. Datuk Jaafar is also a substantial shareholder of Century and Onsys Energy Sdn. Bhd. Save and except for Dr. Mohamed Amin and Datuk Jaafar, none of the directors and/or major shareholders of Century and/or persons connected to them, has any interest, direct or indirect in the above subscription. 4. Statement of the Directors The Board of Directors of Century, except Dr. Mohamad Amin and Datuk Jaafar, is of the opinion that the above subscription is in the best interest of the Century Group. This announcement is dated 12 October 2011.
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Announcement Info
| Company Name | CENTURY LOGISTICS HOLDINGS BERHAD |
| Stock Name | CENTURY |
| Date Announced | 12 Oct 2011 |
| Category | General Announcement |
| Reference No | CS-111012-432E0 |
