Satisfaction of the purchase consideration and part settlement of the inter-company advances made by Arab-Malaysian Corporation Berhad ("AMCORP") to Arab-Malaysian Corporation Industrial City Sdn. Bhd. ("AMCIC") by way of issuance of shares of RM0.50 each of AMDB Berhad to AMCORP and Megatime Enterprise Sdn. Bhd. ("MESB"), a wholly-owned subsudiary of AMCORP, upon completion of a Share Sale Agreement and Sale and Purchase Agreement both dated 20 June 2002.
Deemed interest arises by reason of being a substantial shareholder of AMCORP.
Consideration
(1) Disposal of 2 ordinary shares by AMCORP to AMDB Berhad, of its wholly-owned subsidiary, AMCIC, and part settlement of inter-company advances of RM113,268,882 made by AMCORP to AMCIC. (2) Disposal of a parcel of land measuring approximately 73.4 hectares by MESB to Taifab Properties Sdn. Bhd., a wholly-owned subsidiary of AMDB Berhad.
Total no of securities after change:
Direct (units)
14,077
Direct (%)
0.00
Indirect (units)
354,450,212
Indirect (%)
44.16
Total (units)
354,464,289
Total (%)
44.16
Date of Notice
12-Nov-2003
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