The Board of Directors of KKB Engineering Berhad ("KKBEB" or "the Company") is pleased to announce that the Company has on 26 April 2005 acquired additional 6,600,000 ordinary shares of RM1.00 each at an issue price of RM1.00 each ("Acquisition") in its subsidiary, Harum Bidang Sdn. Bhd. ("HBSB"). After the Acquisition, the equity interest of KKBEB in HBSB has increased from 80% to 90%.
2. The effect of the Acquisition in HBSB on the earning per share, net tangible assets per share, share capital and substantial shareholders' shareholdings of KKBEB Group
The Acquisition in HBSB is not expected to have significant effect on the earning per share, net tangible assets per share, share capital and substantial shareholders' shareholdings of KKBEB Group.
3. Whether the Acquisition in HBSB is subject to the approval of the shareholders and the relevant government authorities
The Acquisition in HBSB is not subject to the approval of the shareholders and the relevant government authorities.
4. Directors' Interest
None of the Directors, Major Shareholders and persons connected to them have any interest, direct or indirect in the above Acquisition.
5. The salient features of the agreement on the Acquisition in HBSB and the time and place where the agreement may be inspected
There is no agreement with regards to the Acquisition in HBSB.
6. Directors' Statement
The Directors of KKBEB are of the opinion that the above Acquisition is in the best interest of the Company.
