| General Announcement Reference No CI-070618-19276 |
| Company Name | : | EVERGREEN FIBREBOARD BERHAD |
| Stock Name | : | EVERGRN |
| Date Announced | : | 18/06/2007 |
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| Type | : | Announcement |
| Subject | : | EVERGREEN FIBREBOARD BERHAD ACQUISITION OF A SUBSIDIARY - EVERGREEN HEVEA RESOURCES SDN BHD |
Contents :
INTRODUCTION
On behalf of the Board of Directors of Evergreen Fibreboard Berhad ("EFB" or "the Company"), we wish to announce that the Company is embarking on an acquisition of 4 ordinary shares of RM1.00 each representing 100% of the paid-up capital of Evergreen Hevea Resources Sdn Bhd ("EHRSB") at a cash consideration of RM4.00 from Kuo Jen Chang (Passport No. S2184979J) and Kuo Jen Chiu (Passport No. S2190875D). Further announcement will be made in due course upon completion of the acquisition.
INFORMATION ON EHRSB
EHRSB (Company No. 515982-A) was incorporated on 5 June 2000 with its relevant information as follows: -
a) Authorised capital of RM100,000.00 comprising of 100,000 ordinary shares of RM1.00 each.
b) Paid-up capital is RM4.00.
c) The intended principal activity of EHRSB is trading and managing of plantations. EHRSB has remained dormant since the date of incorporation.
RATIONALE
The acquisition of EHRSB is for future expansion of EFB Group.
FINANCIAL EFFECTS
The acquisition of EHRSB does not have any effect on the issued and paid up share capital, net assets position, earnings, gearings and the major shareholdings structure of EFB for the financial year ended 31 December 2007.
DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST
Save as disclosed below, none of the Directors and Major shareholders of EFB has interest in the acquisition of EHRSB: -
(i) Kuo Jen Chang, Kuo Jen Chiu, Mohd Alkaf Bin Mohd Kahar and Mary Henerietta Lim Kim Neo are the directors of the Company and EHRSB; and
(ii) Kuo Jen Chang and Kuo Jen Chiu are the major shareholders of the Company and EHRSB.
APPROVALS REQUIRED
The acquisition of EHRSB is not subject to the approval of shareholders' of EFB and other government authorities.