D&O GREEN TECHNOLOGIES BERHAD
D & O GREEN TECHNOLOGIES BERHAD (FORMERLY KNOWN AS D & O VENTURES BERHAD) (“D&O” OR “COMPANY”)
PROPOSED ACQUISITION BY D&O OF 51 ORDINARY SHARES OF RM1.00 EACH (“SHARES”) REPRESENTING 51% EQUITY INTEREST IN OMEGA PHOTONICS PACKAGING SDN BHD (“OPP”) FROM OMEGA SEMICONDUCTOR TECHNOLOGY SDN BHD (“OST”), A WHOLLY-OWNED SUBSIDIARY OF D&O FOR A TOTAL CASH CONSIDERATION OF RM51 (“PROPOSED ACQUISITION”)
The Board of Directors of D&O (“Board”) wishes to announce that the Company is proposing to undertake the proposed acquisition of 51% equity interest in OPP from OST for a total cash consideration of RM51.
The Proposed Acquisition is in essence part of D&O’s rationalisation efforts to streamline the businesses within the D&O group of companies. Currently, the 51% equity interest in OPP is indirectly held by D&O via OST. The Proposed Acquisition will therefore result in D&O directly owning 51% equity interest in OST.
The Proposed Acquisition will not have any effect on the share capital, substantial shareholders’ shareholdings, net assets, gearing, earnings per share and convertible securities of D&O.
None of the directors and major shareholders of the Company as well as persons connected with them have any interest, direct and/or indirect, in the Proposed Acquisition. The Board is of the opinion that the Proposed Acquisition is in the best interest of D&O.
This Announcement is dated 13 May 2010
Announcement Details :
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