The Board of Directors of D & O Ventures Berhad (“D&O” or “the Company”) wish to announce that Omega Semiconductor Sdn Bhd (“Omega”), a wholly-owned subsidiary, had on 17 July 2009 diluted its equity interest from 57.34% to 51.31% in Dominant Semiconductors Sdn Bhd (“Dominant”) arising from the allotment of 5,200,000 new ordinary shares of RM1.00 each of Dominant to Gold Zest Holding Invest Ltd, a company incorporated in British Virgin Islands (“Gold Zest”).
2. Information of Dominant
Dominant is principally involved in the design, development, assembly and testing of opto-semiconductor products. The main product manufactured by Dominant is surface-mount light emitting diodes (LEDs) which is widely used in handphones, automotive lightings, outdoor display boards, traffic lights and general lighting.
After this dilution, Omega is still the single largest shareholder holding 51.31% equity interest in Dominant.
3. Financial Effects
The dilution is not expected to have any material effect on the net assets per share and earnings per share of D&O Group for the financial year ending 31 December 2009.
The dilution will have no effect on the share capital of D&O and Dominant is still the subsidiary of D&O Group.
None of the Directors and/or major shareholders of D&O and/or persons connected to them have any interest, direct or indirect in Gold Zest.
Dated this 20th day of July 2009