OTHERS ORNAPAPER BERHAD ("ORNA" or "the Company") - Acquisition of new company by a wholly owned subsidiary company

ORNAPAPER BERHAD

Type Announcement
Subject OTHERS
Description
ORNAPAPER BERHAD ("ORNA" or "the Company")
- Acquisition of new company by a wholly owned subsidiary company

The Board of Directors of ORNA wishes to announce that its wholly owned subsidiary company, Ornapaper Industry (M) Sdn. Bhd. had on 28 February 2017 acquired 2 ordinary shares, representing its entire issued and paid-up capital of Ornapaper Logistics Sdn. Bhd. (Company No. 1217635-D) (“OLg”), for a total cash consideration of RM2.00.

Upon the completion of the acquisition, OLg shall become a wholly owned subsidiary of ORNA.          

OLg, a private limited company incorporated in Malaysia on 25 January 2017 and having its registered office at No. 27-1, Jalan PPM 8, Pandan Malim Business Park, 75250 Melaka. Its intended business is to provide transportation service to ORNA and the Group.

The transaction is not expected to have any material impact on ORNA Group’s earnings for the financial year ending 31 December 2017.

None of the Directors and/or major shareholders of ORNA or any persons connected to them have any interest, direct or indirect in the acquisition.

This announcement is dated 28 February 2017.

 






Announcement Info

Company Name ORNAPAPER BERHAD
Stock Name ORNA
Date Announced 28 Feb 2017
Category General Announcement for PLC
Reference Number GA1-28022017-00144