The Board of Directors of D&O is pleased to announce that D&O had on 24 March 2011 acquiring the remaining 49% equity interest in Omega Photonics Packaging Sdn Bhd (“OPP”) comprising 49 fully paid ordinary shares of RM1.00 each from a non-related party shareholder of D&O Group for a cash consideration of RM49.00 only.?Consequently, OPP became a wholly-owned subsidiary of D&O.?The acquisition was funded through internal generated funds.
Presently, OPP is dormant and the acquisition is not expected to have any material effect on the earnings and net assets of the Group for the financial year ending 31 December 2011.?The acquisition is also not subject to approval of shareholders of D&O or any regulatory authorities.
None of the Directors or Major Shareholders of D&O or person connected with the Directors and/or Major Shareholders of D&O as defined in the Listing Requirements have any interests, direct or indirect in the said acquisition.