| Contents |
:
|
The Board of Directors’ of QL Resources Berhad (“QLRB”) wishes to announce that its 70.59% owned subsidiary, namely QL Endau Marine Products Sdn. Bhd. (“QL Endau”) had on 11 January 2011 proposed to acquire 5,100 ordinary shares of RM1.00 each of the issued and paid-up capital of Pilihan Mahir Sdn. Bhd. (“Pilihan Mahir”) for a total consideration of RM500,000.
Presently, QL Endau is a 70.59% owned subsidiary of QL Fishery Sdn. Bhd., which is a wholly-owned subsidiary of QL. Meanwhile, QL Endau owned 49% equity interests of the issued and paid-up capital of Pilihan Mahir.
Upon the completion of the aforesaid transaction, QL Endau will own 10,000 ordinary shares of RM1.00 each representing 100% of the issued and paid-up capital of Pilihan Mahir.
None of the Directors and/or major shareholders of the Company and/or persons connected to them have any interests, direct or indirect, in the aforesaid transaction.
This announcement is dated 11 January 2011. |
|
