The Board of Directors of the Company wishes to announce that its wholly-owned subsidiary, Omega Photonics Packaging Sdn Bhd (Company No.?/b>645720-H) (“OPP”) had on 14 September 2011 submitted application to Companies Commission of Malaysia (“SSM”) for striking off the name of OPP from the register pursuant to Section 308 of the Companies Act, 1965 (“Proposed Strike Off”).
2. 牋牋牋?INFORMATION ON OPP
OPP is a private limited company duly incorporated in Malaysia under the Malaysian Companies Act, 1965 and having its registered address at No. 15 Bukit Ledang, Off Jalan Duta, 50480 Kuala Lumpur. It has an authorised share capital of RM100,000 comprising of 100,000 ordinary shares of RM1.00 each and a paid-up capital of RM100. The principal activities of OPP are engineering design, research and development of photonics products’ assembly, packaging and testing process. As at to-date, it is a dormant company.
3. 牋牋牋?RATIONALE OF THE PROPOSED STRIKE OFF
OPP has been dormant since its incorporation in 2004. There is no intention to commence any business activities in the future. Thus, the Directors are of the view that it is in the best interest of the Group to strike off OPP from the register to reduce cost, streamline and align entities within the Group and to create a leaner and efficient corporate structure.
4. 牋牋牋?FINANCIAL EFFECT
The Proposed Strike Off will not have any material effect on the share capital and shareholdings of the substantial shareholders, earnings and net assets per share of the Company for the financial year ending 31 December 2011.
5. 牋牋牋?APPROVAL REQUIRED
The Proposed Strike Off is not subject to the approval of the shareholders. However, the Proposed Strike Off is at the sole discretion of the SSM.
6. 牋牋牋?EXPECTED TIME OF COMPLETION
Barring any unforeseen circumstances, the Proposed Strike Off is expected to be completed upon the receipt of the notification pursuant to Section 308(4) of the Companies Act, 1965 whereupon announcement will be made by the Company upon receipt the notification pursuant to Section 308(4) of the Companies Act, 1965.
This announcement is dated 14th day of September 2011