Others

Type	Announcement
Subject	OTHERS
Description	Sunsuria Berhad ("Sunsuria" or "the Company") - Internal Reorganisation of Group Structure of Sunsuria and Its Subsidiaries ("Sunsuria Group" or "the Group")

The Board of Sunsuria wishes to announce that pursuant to Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company has on 26 March 2018 acquired the entire issued shares of Sunsuria Education Sdn Bhd (formerly known as Sunsuria Times Sdn Bhd) (“SESB”) from Sunsuria North Sdn Bhd (“SNSB”), a wholly-owned subsidiary of the Company for a total cash consideration sum of RM200,000.00 (Ringgit Malaysia Two Hundred Thousand) only (“Internal Reorganisation”), details as set out in the table below:

Target company			Vendor	Purchaser	Consideration (RM)
Name	Equity interest to be disposed of	Principal activities
SESB	100% equity interest comprising 200,000 ordinary shares	Dormant	SNSB	Sunsuria	200,000.00

Upon completion of the Internal Reorganisation, SESB becomes a direct wholly-owned subsidiary of Sunsuria.

The Internal Reorganisation is undertaken to streamline the business segments and group structure of the Sunsuria Group.

The Internal Reorganisation will not have any material effect on the earnings per share, net assets, gearing, share capital and substantial shareholders’ shareholding of the Sunsuria Group for the financial year ending 30 September 2018.

The Internal Reorganisation is not subject to the approval of the shareholders of Sunsuria and/or other relevant authorities.

None of the Directors and/or major shareholders of Sunsuria or any persons connected to them have any direct or indirect interest in the Internal Reorganisation.

The Board, having considered all aspects of the Internal Reorganisation, is of the opinion that the Internal Reorganisation is in the best interest of the Company.

This announcement is dated 26 March 2018.

 

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