Parkson Holdings Berhad (PHB) will not proceed with the sale of 457.9 million ordinary shares in the company held by wholly-owned subsidiary East Crest International.
On July 15, PHB and its wholly-owned subsidiary East Crest International, entered into a sale and purchase agreement with Parkson Retail Group (PRG), a 53.1% owned subsidiary of PHB, and Oroleon (Hong Kong), a wholly-owned subsidiary of PRG, to dispose of 457.9 million ordinary shares in the company held by East Crest to Oroleon as part of an internal reorganisation of the PHB Group.
However, the sale and purchase agreement and transactions contemplated were not approved at an extraordinary general meeting held by PRG on Monday.
Accordingly, the transaction will not proceed.
Parkson Retail Asia shares closed 1.59% lower at 31 cents on Monday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
On July 15, PHB and its wholly-owned subsidiary East Crest International, entered into a sale and purchase agreement with Parkson Retail Group (PRG), a 53.1% owned subsidiary of PHB, and Oroleon (Hong Kong), a wholly-owned subsidiary of PRG, to dispose of 457.9 million ordinary shares in the company held by East Crest to Oroleon as part of an internal reorganisation of the PHB Group.
However, the sale and purchase agreement and transactions contemplated were not approved at an extraordinary general meeting held by PRG on Monday.
Accordingly, the transaction will not proceed.
Parkson Retail Asia shares closed 1.59% lower at 31 cents on Monday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment