Introduction
The Board of Directors of OCK Group Berhad ("OCK" or “Company”) wishes to announce that Milab Marketing Sdn Bhd ("Milab Marketing"), a wholly owned subsidiary of OCK had on 23 August 2017 completed the acquisition of 25,500 ordinary shares in Seri Kuasa Sdn Bhd (“Seri Kuasa”) representing 51% equity interest in Seri Kuasa for a cash consideration of RM25,500.00 (“Acquisition”). Upon completion of the Acquisition, Seri Kuasa will be a sub-subsidiary of OCK.
Information on Seri Kuasa Sdn Bhd (“Seri Kuasa”)
Seri Kuasa was incorporated on 18 September 2013 with a paid-up share capital of RM50,000 and the intended business is to deal with power generation. Seri Kuasa is currently dormant.
The Directors of Seri Kuasa are as follows:
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Name
|
Nationality
|
|
Ooi Chin Khoon
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Malaysian
|
|
Chong Wai Yew
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Malaysian
|
The shareholders of Seri Kuasa and their respective shareholdings in Seri Kuasa as at the date of this announcement are as follows:
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Shareholders
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No. of Shares
|
%
|
|
Milab Marketing Sdn Bhd
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25,500
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51%
|
|
Triple Millenium Sdn Bhd
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24,500
|
49%
|
|
Total
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50,000
|
100.00%
|
Financial Effects
The Acquisition will not have any material effect on the share capital and substantial shareholders’ shareholdings of OCK, and is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Group for the financial year ending 31 December 2017.
Interests Of Directors, Substantial Shareholders And Persons Connected To Them
Saved for Mr Ooi Chin Khoon and Mr Chong Wai Yew who are the common directors, none of the directors or substantial shareholders of OCK and/or persons connected with them has any interest, direct or indirect, in the said Acquisition.
This announcement is dated 24 August 2017.