Company Name
:
EP MANUFACTURING BHD
Stock Name
:
EPMB  
Date Announced
:
04/01/2013


Type
:
Announcement
Subject
:
OTHERS

Description
:
EP MANUFACTURING BHD ("EPMB" OR "THE COMPANY")
ACQUISITION BY EP POLYMERS (M) SDN BHD ("EPP") OF 1 ORDINARY SHARE OF RM1.00 EACH REPRESENTING THE REMAINING 50% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF EPTS MANUFACTURING SDN BHD ("EPTS")

Announcement Details/Table Section :


1. Introduction

Pursuant to Paragraph 9.19(23) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, EPMB wishes to announce that EP Polymers (M) Sdn Bhd ("EPP "), a wholly-owned subsidiary company of EPMB had on 4 January 2013 acquired the remaining 50% of the issued and paid-up share capital of EPTS Manufacturing Sdn Bhd ("EPTS") comprising 1 ordinary share of RM1.00 each for a cash consideration of RM1.00 from Teck See Plastic Sdn Bhd ("the Acquisition"). Upon completion of the Acquisition, EPTS will be a wholly-owned subsidiary of EPP.

2. Rationale for the Acquisition

EPTS has been dormant since its incorporation. The Acquisition is part of EPMB's rationalisation plan to streamline its group of companies.


3. Effects of the Acquisition

The Acquisition will not have any effect on the Company's issued and paid-up share capital and substantial shareholders' shareholdings. There will be no material effect on the group's earnings per share, gearing and net assets per share.


4. Approvals Required

The Acquisition does not require approval from the shareholders of EPMB or any other relevant authorities.


5. Interest of Directors, Substantial Shareholders and Persons Connected

None of the Directors, major shareholders and/or persons connected with them has any interest, direct or indirect, in the Acquisition.


This announcement is dated 4 January 2013.


© 2013, Bursa Malaysia Berhad. All Rights Reserved.


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