D&O GREEN TECHNOLOGIES BERHAD
D & O GREEN TECHNOLOGIES BERHAD (FORMERLY KNOWN AS D & O VENTURES BERHAD) (“D&O” OR “COMPANY”)
ACQUISITION BY D&O OF 4,900 ORDINARY SHARES OF HKD1.00 EACH (“SHARES”) REPRESENTING 49% EQUITY INTEREST IN AEOPTO TECHNOLOGIES (HK) COMPANY LIMITED (“ATHK”) FOR A TOTAL CASH CONSIDERATION (“ACQUISITION”)
Further to our announcement on 28 October 2010 for the completion of the dividend-in-specie by Omega Semiconductor Sdn Bhd to D&O of all the 5,100 ordinary shares of HKD1.00 each representing 51% of the equity interest in ATHK, the Board of Directors of D&O (“Board”) wishes to announce that the Company had on 28 October 2010 acquired the remaining 4,900 ordinary shares of HKD1.00 each representing 49% equity interest in ATHK from Wu Wen Feng at a total cash consideration of USD93,921 equivalent to RM293,926.
As a result of the Acquisition, D&O holds 100% direct equity interest in ATHK and 20% effective equity interest in Tongfang Optoelectronic (HK) Limited (“TOHK”) through ATHK. The Acquisition is part of D&O’s business rationalization effort to consolidate and strengthen the Group’s interests in downstream module business.
The Acquisition does not have any effect on the share capital, substantial shareholders’ shareholdings, net assets, gearing and earnings per share of D&O.
None of the directors and major shareholders of the Company as well as persons connected with them have any interest, directly and/or indirectly, in the Acquisition. The Board is of the opinion that the Acquisition is in the best interest of D&O.
This Announcement is dated 29 October 2010
Announcement Details :
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