OTHERS IRE-TEX CORPORATION BERHAD (IRE-TEX OR COMPANY OR THE GROUP) INTERNAL RESTRUCTURING EXERCISE WITHIN THE SUBSIDIARIES OF THE COMPANY (herein after known as Proposed Internal Restructuring Exercise)

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
IRE-TEX CORPORATION BERHAD (IRE-TEX OR COMPANY OR THE GROUP)  INTERNAL RESTRUCTURING EXERCISE WITHIN THE SUBSIDIARIES OF THE COMPANY (herein after known as Proposed Internal Restructuring Exercise)

Pursuant to paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Ire-Tex Corporation Berhad (“IRE-TEX” or “the Company” or “the Group”) wishes to announce that the Company had on 4 January 2019 transferred its 150,000 ordinary shares representing 5% equity in Ire-Tex (Johor) Sdn Bhd (Company No. 497417-D) to Ire-Tex (Malaysia) Sdn Bhd (Company No. 351185-T), a wholly owned subsidiary of the Company for a total consideration of RM150,000.00 (Ringgit Malaysia One Hundred Fifty Thousand) Only for Internal Restructuring Exercise.

 

Upon completion of the Proposed Internal Restructuring Exercise, IRE-TEX shall reduce its direct shareholding in Ire-Tex Johor Sdn Bhd from 70% to 65% and the Company shall remain holding 70% of direct and indirect shareholding of Ire-Tex (Johor) Sdn Bhd and Ire-Tex (Johor) Sdn Bhd shall remain as a subsidiary of IRE-TEX.  The details are set out in the attachment to this announcement.

 

This announcement is dated 7 January 2019. 




Please refer attachment below.

Attachments

ITCB- dispose share in ITJ.docx 
14.3 kB



Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 07 Jan 2019
Category General Announcement for PLC
Reference Number GA1-04012019-00060