| Contents |
:
|
The Board of Directors of Bonia Corporation Berhad (“Bonia” or “Compnay”) wishes to announce that Kin Sheng Group Limited (“KSG”), a wholly owned subsidiary of Bonia had on 23 December 2008 acquired the entire interest in Guangzhou Jia Li Bao Leather Fashion Co Ltd (“JLB”) for a total cash consideration of USD650,000 (“the Acquisition”) from Active World Pte Ltd, another wholly owned subsidiary of Bonia.
The current principal activity of JLB is retailing, marketing, promoting, designing, import and export of fashionable leather goods, apparels and accessories. The current authorised share capital of GJLB is USD650,000.00 of which all the share capital has been issued and fully paid-up.
The Acquisition is for Bonia to rationalize its group structure. It has no material effect on the earnings per share, net tangible assets per share, share capital and the substantial shareholdings of the Company for the financial year ending 30 June 2009.
None of the Directors or major shareholders or persons connected to the Directors or major shareholders of the Company have any interest, direct or indirect, in the Acquisition.
This announcement is dated 23 December 2008. |
|
