NOVA MSC BERHAD
05 Nov 2012
|Description||Increase in investment in Associate Company, B-Nova Sdn Bhd|
The Board of Director of Nova MSC Berhad (“Company”) wishes to announce that the Company has increased its investment in its 40% owned associate company, B-Nova Sdn Bhd (“BNSB”), incorporated in Burnei, by way of a subscription of 32,000 new shares at par value of B$1 (“New Shares”). The total consideration for the subscription of the New Shares is B$32,000 (approximately RM80,000). The consideration is to be fully paid in cash. As all shareholders of BNSB subscribed for the new shares in proportion to their respective shareholdings, the Company’s shareholding in BNSB remains unchanged at 40%.
The additional investment is not expected to have a material effect on the group earning or net asset of the Nova Group for the current financial year
None of the other directors and/or major shareholders of Company or persons connected to the directors and/or major shareholders of Company have any interest, direct or indirect in the above transaction except Mr Chan Wing Kong, who is nominated by the Company to be represented in BNSB and hence will be the common director of the Company and BNSB.
This announcement is dated 5 November 2012
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