The Board of Directors of SJCB are pleased to announce that its wholly-owned subsidiary, Seni Jaya Sdn. Bhd. ("SJSB") had on 17 June 2014 acquired additional 49,000 ordinary shares of RM1/- each fully paid-up in the capital of Seni Jaya Media Utama Sdn. Bhd. (Company No. 1076454-A) ("SJMU"), representing 49% equity interest of SJMU for a total cash consideration of RM49,000.00 from Pop Up Media Sdn. Bhd. ("the Acquisition"). Consequent thereto, SJMU became wholly-owned subsidiary of SJSB, which in turn became a indirect wholly-owned subsidiary of the Company.
The Acquisition does not have any material effect on the earnings and net tangible assets of the Company.
None of the Directors, Major Shareholders and/or person connected to them has any interest, direct or indirect, in the Acquisition.
The Board of Directors of SJCB are of the opinion that the Acquisition is in the best interest of SJCB and the SJCB's Group.
The Acquisition of additional shares in SJMU by SJSB is not subject to the approval of the shareholders or any other relevant authorities.
This announcement is dated 17 June 2014.