News
Subscription Of Additional Shares In Food Excellence Specialist Sdn Bhd
BackMar 04, 2013
| Title |
|
|
| Acquisitions and Disposals |
|
|
| Description | The Board of Directors of Food Empire Holdings Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that the Company's wholly-owned subsidiary, Future Enterprises Pte. Ltd. ("FEPL"), has subscribed for an additional 3,000,000 ordinary shares of par value RM1.00 each in the share capital of Food Excellence Specialist Sdn Bhd ("FESSB"), a wholly-owned subsidiary of FEPL, for a total cash consideration of RM3,000,000 (equivalent to USD970,500). Following the subscription, the total issued and paid-up share capital of FESSB has increased from RM600,000 comprising 600,000 ordinary shares of par value RM1.00 each to RM3,600,000 (equivalent to USD1,164,600) comprising 3,600,000 ordinary shares of par value RM1.00 each. The above transaction was funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year. None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transaction. By Order of the Board Tan San-Ju Company Secretary 4 March 2013 |
|
