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The Board of Directors of QL Resources Berhad ("QL") would like to announce that its wholy owned subsidiary, QL Fishmeal Sdn. Bhd. (Company no. 120615-K) had on 12 July 2010 acquired two (2) ordinary shares of RM1.00 each of Ambang Spektrum Sdn. Bhd.(Company no.902405-P)("AS") representing the entire issued and paid up capital of AS from Salasiah Binti Mohd Said & Asiah Binti Osman for a consideration of Ringgit Malaysia : Two only (RM2.00).
The authorised share capital of AS is RM100,000.00 comprising of 100,000 ordinary shares of RM1.00 each with an issued and paid up capital of RM2.00 comprising of 2 ordinary shares of RM1.00 each. The company is currently dormant and is intended activity is property holding.
The above acquisition does not have any effect on the issued and paid up capital of QL and has no material effect on the earnings and net assets of QL Group for the financial year ending 31 March 2011.
The Directors of QL are of the opinion that the above acquisition is in the best interest of QL.
None of the directors and/or substantial shareholder of QL, or person connected to them has any interest direct or indirect in the acquisition. |
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