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OTHERS ACQUISITION OF 36,000,000 ORDINARY SHARES OF RM0.25 EACH IN MAGNA PRIMA BERHAD, REPRESENTING APPROXIMATELY 10.84% EQUITY INTEREST OF THE TOTAL ISSUED AND PAID-UP CAPITAL OF MAGNA PRIMA BERHAD AT A PURCHASE CONSIDERATION OF RM66,600,000 (ACQUISITION)

HUA YANG BERHAD

Type Announcement
Subject OTHERS
Description
ACQUISITION OF 36,000,000 ORDINARY SHARES OF RM0.25 EACH IN MAGNA PRIMA BERHAD, REPRESENTING APPROXIMATELY 10.84% EQUITY INTEREST OF THE TOTAL ISSUED AND PAID-UP CAPITAL OF MAGNA PRIMA BERHAD AT A PURCHASE CONSIDERATION OF RM66,600,000 (ACQUISITION)

Further to the announcement on 25 January 2017 on the acquisition of an investment of 10.84% in Magna Prima Berhad (MPB), the Board of Directors of Hua Yang Berhad wishes to inform that MPB has on 13 February 2017 agreed to the appointment of the Company’s Chief Executive Officer/Executive Director, Mr Ho Wen Yan to their Board. Mr Ho Wen Yan will hold an Executive Director position in MPB. His appointment is to represent the Company’s interest in MPB and to stay abreast of the developments in the investee company. 

 






Announcement Info

Company Name HUA YANG BERHAD
Stock Name HUAYANG
Date Announced 13 Feb 2017
Category General Announcement for PLC
Reference Number GA1-13022017-00009


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