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The Board of Directors of Bonia Corporation Berhad (“Company” or “Bonia”) wishes to announce that CRG Incorporated Sdn Bhd (“CRG”), a wholly-owned subsidiary company of Bonia had on 13 April 2010 acquired 300,000 ordinary shares of RM1.00 each representing 60% equity interest in Apex Marble Sdn Bhd (“AMSB”) from Mcore Sdn Bhd (“Mcore”), fellow subsidiary company of Bonia for a total cash consideration of RM2,525.00 only (“Acquisition”). The consideration was arrived at based on the net assets of AMSB stated in the audited financial statements for the financial year ended 30 June 2009. The Acquisition is not subject to the approval of shareholders and the local relevant authorities.
AMSB was incorporated in Malaysia with an authorised share capital of RM1,000,000 comprising 1,000,000 ordinary shares of RM1.00 each of which 500,000 ordinary shares had been issued and fully paid-up. Its principal activities are marketing and distribution of fashionable goods in Vietnam market.
The purpose of the Acquisition is for Bonia to rationalize its group structure whereby the business operation of the house brand “Carlo Rino” is grouped under CRG.
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 2010.
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 13 April 2010. |
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