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Proposed Disposal By Dayang Of 1,800,000 Ordinary Shares Of RM1.00 Each In Syarikat Borcos Shipping Sdn Bhd ("Borcos"), Representing 40% Of The Issued And Paid-Up Capital Of Borcos To Awh Equity Holdings Sdn Bhd ("Awh") For A Total Cash Consideration Of RM135,000,000 ("Proposed Disposal")

BackDec 08, 2010
Date Announced
:
08/12/2010  




Type
:
Announcement
Subject
:
DAYANG ENTERPRISE HOLDINGS BHD ("DAYANG" OR THE "COMPANY")

PROPOSED DISPOSAL BY DAYANG OF 1,800,000 ORDINARY SHARES OF RM1.00 EACH IN SYARIKAT BORCOS SHIPPING SDN BHD ("BORCOS"), REPRESENTING 40% OF THE ISSUED AND PAID-UP CAPITAL OF BORCOS TO AWH EQUITY HOLDINGS SDN BHD ("AWH") FOR A TOTAL CASH CONSIDERATION OF RM135,000,000 ("PROPOSED DISPOSAL")

Contents
:
On behalf of the Board of Directors of Dayang, OSK Investment Bank Berhad wishes to announce that Dayang had, on 8 December 2010 entered into a conditional Share Sale Agreement with AWH for the disposal of 1,800,000 ordinary shares of RM1.00 each in Borcos, representing 40% equity interest in Borcos, for a total cash consideration of RM135,000,000.

Further details of the Proposed Disposal are set out in the attachment.


This announcement is dated 8 December 2010.

Attachments

  1. DAYANG081210.pdf (Size: 75,484 bytes)