The Board of Directors of SRB is pleased to declare a single-tier interim dividend of 3.0 sen per ordinary share in respect of the financial year ending 31 January 2017. The date of entitlement and date of payment in respect of the aforesaid interim dividend will be determined and announced in due course.
CIRCULAR TO SHAREHOLDERS IN RELATION TO THE I. PROPOSED DISPOSAL BY SAPURA RESOURCES BERHAD ("SRB") OF ITS ENTIRE 49% EQUITY INTEREST IN APIIT SDN BHD TO ILMU EDUCATION GROUP SDN BHD ("ILMU") AFTER THE PROPOSED REORGANISATION (AS DEFINED IN THIS CIRCULAR) FOR A TOTAL CASH CONSIDERATION OF RM58,000,000; II. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 49% EQUITY INTEREST IN ASIA PACIFIC UNIVERSITY SDN BHD TO ILMU FOR A TOTAL CASH CONSIDERATION OF RM161,988,000; AND III. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 37.61% INTEREST IN ASIA PACIFIC INSTITUTE OF INFORMATION TECHNOLOGY LANKA (PVT) LIMITED TO ILMU FOR A TOTAL CASH CONSIDERATION OF RM27,000,000
SERI KEMBANGAN (June 15): Sapura Resources Bhd will channel proceeds from the sale of its education assets towards its RM1.5 billion property project near the Kuala Lumpur City Centre.
Sapura Resources' Lot 91 development along Jalan Kia Peng entails an office tower besides a convention centre and retail podium.
Sapura Resources managing director Datuk Shahriman Shamsuddin said shareholders had, during the company's extraordinary general meeting (EGM) today, approved the company's proposal to sell its education assets to Ekuiti Nasional Bhd (Ekuinas) for RM246.99 million.
"We have a joint venture (JV) with KLCC (Holdings Sdn Bhd) to build a 52-storey tower with about 1.2 million square feet, attached to the convention centre.
"The GDV (gross development value) is approximately RM1.5 billion. We own 50% of the JV," Shahriman told reporters after Sapura Resources' annual general meeting and EGM.
The Malaysian Government owns private equity firm Ekuinas. Sapura Resources has proposed to sell its education assets to Ekuinas' unit Ilmu Education Group Sdn Bhd.
Sapura Resources is selling its 49% stake each in APIIT Sdn Bhd and Asia Pacific University Sdn Bhd for RM58 million and RM161.99 million respectively.
Sapura Resources is also disposing of its 37.61% stake in Asia Pacific Institute of Information Technology Lanka (Pvt) Ltd for RM27 million.
At Bursa Malaysia, Sapura Resources shares rose four sen or 4% at 12:30pm to settle at RM1.05 for a market value of RM141 million. The stock saw 22,000 shares traded.
I thought it states maximum 11.5cents, so it's a confirmed figure? No further reduction or adjustment? Looking at current price, 11.5c is about >10% return, still better than put into fd, right?
I. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 49% EQUITY INTEREST IN APIIT SDN BHD (“APIIT”) TO ILMU EDUCATION GROUP SDN BHD (“ILMU”) AFTER THE PROPOSED REORGANISATION FOR A TOTAL CASH CONSIDERATION OF RM58,000,000 (“PROPOSED DISPOSAL OF APIIT”);
II. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 49% EQUITY INTEREST IN ASIA PACIFIC UNIVERSITY SDN BHD (“APU”) TO ILMU FOR A TOTAL CASH CONSIDERATION OF RM161,988,000 (“PROPOSED DISPOSAL OF APU”); AND
III. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 37.61% INTEREST IN ASIA PACIFIC INSTITUTE OF INFORMATION TECHNOLOGY LANKA (PVT) LIMITED (“APIIT LANKA”) TO ILMU FOR A TOTAL CASH CONSIDERATION OF RM27,000,000 (“PROPOSED DISPOSAL OF APIIT LANKA”)
(The above are collectively referred to as “Proposed Disposals”)
(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 16 March 2016.)
We refer to the announcements dated 16 March 2016, 24 March 2016, 10 June 2016 and 15 June 2016 in relation to the Proposed Disposals.
On behalf of SRB, we wish to announce that the Company and ILMU had, on 15 July 2016, mutually agreed to extend the Conditional Period for a period of up to 29 July 2016 or such other period as may be mutually agreed by the Company and ILMU in writing for the fulfillment of the Conditions Precedent under the SSA.
I. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 49% EQUITY INTEREST IN APIIT SDN BHD (“APIIT”) TO ILMU EDUCATION GROUP SDN BHD (“ILMU”) AFTER THE PROPOSED REORGANISATION FOR A TOTAL CASH CONSIDERATION OF RM58,000,000 (“PROPOSED DISPOSAL OF APIIT”);
II. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 49% EQUITY INTEREST IN ASIA PACIFIC UNIVERSITY SDN BHD (“APU”) TO ILMU FOR A TOTAL CASH CONSIDERATION OF RM161,988,000 (“PROPOSED DISPOSAL OF APU”); AND
III. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 37.61% INTEREST IN ASIA PACIFIC INSTITUTE OF INFORMATION TECHNOLOGY LANKA (PVT) LIMITED (“APIIT LANKA”) TO ILMU FOR A TOTAL CASH CONSIDERATION OF RM27,000,000 (“PROPOSED DISPOSAL OF APIIT LANKA”)
(The above are collectively referred to as “Proposed Disposals”)
(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 16 March 2016.)
We refer to the announcements dated 16 March 2016, 24 March 2016, 10 June 2016, 15 June 2016 and 15 July 2016 in relation to the Proposed Disposals.
On behalf of SRB, we wish to announce that the Company and ILMU had, on 28 July 2016, mutually agreed to extend the Conditional Period for a period of up to 12 August 2016 or such other period as may be mutually agreed by the Company and ILMU in writing for the fulfillment of the Conditions Precedent under the SSA.
I. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 49% EQUITY INTEREST IN APIIT SDN BHD (“APIIT”) TO ILMU EDUCATION GROUP SDN BHD (“ILMU”) AFTER THE PROPOSED REORGANISATION FOR A TOTAL CASH CONSIDERATION OF RM58,000,000 (“PROPOSED DISPOSAL OF APIIT”);
II. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 49% EQUITY INTEREST IN ASIA PACIFIC UNIVERSITY SDN BHD (“APU”) TO ILMU FOR A TOTAL CASH CONSIDERATION OF RM161,988,000 (“PROPOSED DISPOSAL OF APU”); AND
III. PROPOSED DISPOSAL BY SRB OF ITS ENTIRE 37.61% INTEREST IN ASIA PACIFIC INSTITUTE OF INFORMATION TECHNOLOGY LANKA (PVT) LIMITED (“APIIT LANKA”) TO ILMU FOR A TOTAL CASH CONSIDERATION OF RM27,000,000 (“PROPOSED DISPOSAL OF APIIT LANKA”)
(The above are collectively referred to as “Proposed Disposals”)
(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 16 March 2016.)
We refer to the announcements dated 16 March 2016, 24 March 2016, 10 June 2016, 15 June 2016, 15 July 2016 and 28 July 2016 in relation to the Proposed Disposals.
On behalf of SRB, we wish to announce that ILMU and SRB have today agreed that all the Conditions Precedent in relation to the SSA have been duly fulfilled and satisfied.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
KW0203
100 posts
Posted by KW0203 > 2016-05-19 12:16 | Report Abuse
Yeah...0.90 coming