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Bursa Announcements
24 Jun 2010
Type
:
Announcement
Subject
:
CENTURY LOGISTICS HOLDINGS BERHAD ("CENTURY" or "THE COMPANY")
- DISPOSAL OF SHARES IN CENTURY GLOBAL LOGISTICS SDN. BHD.
Contents
:
1. Particular of the Transaction
The Board of Directors of Century wishes to announce that the Company had on 23 June 2010 disposed the entire issued and paid-up share capital of Century Global Logistics Sdn. Bhd. ("CGL") to Encik Aziz Shah Bin Aman Shah and Puan Hamidah Binti Che Long respectively for a total consideration of RM45,000.00 only (the “Disposal”).
Following the Disposal, CGL will cease to be a subsidiary of the Company.
2. Financial Effects
The Disposal does not have any material effects on the earnings per share, gearing and net assets per share of the Century Group. CGL is presently dormant.
The unaudited shareholders' equity of CGL as at 31 March 2010 is RM45,004.00.
3. Directors' and Major Shareholders’ Interest
None of the Directors and/ or major shareholders or persons connected to them has any interest, direct or indirect, in the Disposal.
4. Statement by the Directors
The Board of Directors of Century is of the opinion that the Disposal is in the best interest of Century.
This announcement is dated 24 June 2010.