General Announcement
Reference No
TR-061204-36895
Company Name
:
TSH RESOURCES BERHAD
Stock Name
:
TSH
Date Announced
:
05/12/2006
Type
:
Announcement
Subject
:
ACQUISITION OF SHARES IN LISTED COMPANY
Contents :
1.
INTRODUCTION
The Board of Directors of TSH would like to inform that the Company has on 5 December 2006 acquired a total of 10,000,000 ordinary shares of RM1.00 each, representing 10% shareholding in Sinora Industries Berhad, a company listed on the Main Board of Bursa Malaysia via off-market transaction at a total consideration of RM10,000,000 or RM1.00 per share. The acquisition was funded entirely from the Company's internal sources.
2.
BACKGROUND INFORMATION OF SINORA INDUSTRIES BERHAD ("SINORA")
Sinora is listed on the Main Board of Bursa Malaysia under Industrial Products sector. Its major shareholder is Innoprise Corporation Sdn Bhd ("Innoprise") with a 56% shareholding. Innoprise is a wholly owned subsidiary of Yayasan Sabah, a Sabah State Government Agency.
3.
RATIONALE FOR THE ACQUISITION
The acquisition will provide the Company the opportunity to further invest in oil palm plantation segment and in the longer term contribute significantly to the Group's profitability.
4.
FINANCIAL EFFECTS
The acquisition of Sinora will not have any material impact on the earnings and net tangible assets of TSH for the financial year ending 31 December 2006.
5.
APPROVALS REQUIRED
The acquisition is not subject to the approval of shareholders of TSH or relevant government authorities.
6.
DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTERESTS
None of the Directors, substantial shareholders of TSH or person connected to them have any interest, direct or indirect, in the acquisition of shares in Sinora.
7.
DIRECTORS' STATEMENT
The Board of Directors of TSH is of the opinion that the acquisition of shares in Sinora is in the best interest of the Company.
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2010
, Bursa Malaysia Berhad. All Rights Reserved.