1. INTRODUCTION
The Board of Directors of Pharmaniaga Berhad (“the Company”) wish to announce that the Company had on 25 March 2021 acquired a total 600,000 ordinary shares for a purchase consideration of RM1.00 representing 30% of the total issued and paid-up capital of Bio-Collagen Technologies Sdn Bhd (“BCT”).
In consequent thereto, BCT shall become 100% the wholly-owned subsidiary of the Company.
2. INFORMATION
BCT was incorporated in Malaysia under Companies Act, 1965 on 7 December 2004. The present authorised share capital of BCT is RM2,000,000.00 divided into 2,000,000 ordinary shares RM1.00 each.
3. FINANCIAL EFFECTS
The Acquisition of Shares have no material effect on neither earnings per share nor net asset per shares of the Company for year ending 31 December 2021.
4. DIRECTORS’ AND MAJOR SHAREHOLDERS’ AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER’S INTEREST
Other than via the Company, none of the Directors and /or major shareholders or persons connected to them had any interest, direct or indirect, in the aforesaid acquisition.
5. STATEMENT BY THE BOARD OF DIRECTORS
The Board of Directors is of the opinion that the Internal Reorganisation is in the best interest of the Company.
This announcement is dated 30 March 2021.