Bursa Announcements

Acquisition Of Remaining 10% Equity Interest In Banyan Sutera Sdn Bhd

BackMay 04, 2009
Date Announced
:
04/05/2009
Type
:
Announcement
Subject
:
Acquisition of remaining 10% equity interest in Banyan Sutera Sdn Bhd

Contents
:
The Board of Directors of Bonia Corporation Berhad (“Company” or “Bonia”) wishes to announce that Bonia had on 4 May 2009 acquired 100,000 ordinary shares of RM1.00 each representing 10% equity interest in Banyan Sutera Sdn Bhd (“BSSB”) from the minority shareholder, Mr Jonto Surnaso, for a total cash consideration of RM1.00 only (“Acquisition”). The consideration was arrived at based on a willing buyer willing seller basis. The Acquisition is not subject to the approval of shareholders and the local relevant authorities.

BSSB was incorporated in Malaysia with an authorised share capital of RM2,000,000.00 comprising 2,000,000 ordinary shares of RM1.00 each of which 1,000,000 ordinary shares had been issued and fully paid-up. Its principal activities are marketing and distribution of fashionable goods in Indonesia market.

Prior to the Acquisition, Bonia held 90% equity interest in BSSB. BSSB becomes a wholly owned subsidiary of Bonia subsequent to the Acquisition. The whole ownership in BSSB by Bonia gives rise to a full control in the operation of BSSB.

The Acquisition 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 and major shareholders or persons connected to the Directors or major shareholders of Bonia and its subsidiaries have any interest, direct or indirect, in the Acquisition.

This announcement is dated 4 May 2009.