General Announcement

Reference No CC-150318-62914

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

18/03/2015

 
OTHERS INCORPORATION OF A NEW WHOLLY-OWNED SUBSIDIARY COMPANY

IRE-TEX CORPORATION BERHAD
Type

:

Announcement
 
Subject

:

OTHERS
 
Description

:

INCORPORATION OF A NEW WHOLLY-OWNED SUBSIDIARY COMPANY
 


1. Introduction

    The Board of Directors of Ire-Tex Corporation Berhad ("ITCB" or "the Company") wishes to announce that the Company had on 18 March 2015, subscribed  
    50,000 ordinary shares of USD1 each, representing 100% equity interest in ARIBAR INVESTMENT LTD (“Aribar”). Consequent thereto, Aribar became a
    wholly-owned subsidiary of ITCB.

2. Information of Aribar

    Aribar was incorporated on 2 January 2015 in the Territory of the British Virgin Islands under the BVI Business Companies Act, 2004 and activated on 18
    March 2015. The present authorised and paid up share capital of Aribar are USD50,000 divided into 50,000 ordinary shares of USD1 each respectively.

    Aribar has yet to commence its business operation and the intended principal activity of Aribar is investment holding.

3. FINANCIAL EFFECTS

    The incorporation of Aribar is not expected to have any material effects on the earnings per share, net assets per share, gearing and share capital and
    substantial shareholders’ shareholdings of ITCB for the financial year ending 31 December 2015.

4. Approvals Required

    The incorporation of Aribar is not subject to the approval of any governmental authorities or the shareholders of the Company.

5. Directors' and Major Shareholders' and/or persons connected with a director or major shareholders’ Interests

    None of the Directors and major shareholders or persons connected to the Directors or major shareholders of the Company has any interests, direct or
    indirect, in the incorporation.

6. Directors' Statement

    The Board of Directors of ITCB is of the opinion that the incorporation is in the best interest of the Company.

This announcement is dated 18 March 2015.