Others

BackSep 08, 2011
Date Announced
:
08/09/2011



Type
:
Announcement
Subject
:
OTHERS

Description
:
Purchase of a subsidiary company - Finesta Sdn Bhd (formerly known as Inspire Spiral Sdn Bhd)

Announcement Details/Table Section :

RPB Development Sdn Bhd, a wholly owned subsidiary of Reliance Pacific Berhad purchased a company named Finesta Sdn Bhd (formerly known as Inspire Spiral [953210 A] ) ("Finesta") for a total consideration of RM2.00.

Finesta has an authorised and paid up share capital of RM100,000.00 and RM2.00 respectively.

The rationale for the acquisition is for future property investment.

There are no material effects on RPB's group earnings per share and net tangible assets per share for the financial year ended 31 March 2012.

There are no directors or substantial shareholders' interest in respect of the aforesaid transaction.

There are no government authorities' approval, shareholders' approval and any other approvals required.

This announcement is dated 8 September 2011.