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That pursuant to Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Adventa wishes to announce that the Company had on 28 April 2011, re-organised the group structure by transferring the entire equity interest in Adventa Health Marketing Sdn. Bhd. (formerly known as Icodex Sdn. Bhd.) ("Adventa Health Marketing") held by its 97.2% subsidiary, Purnabina Sdn. Bhd. ("Purnabina") to Adventa.
That contingent upon the above re-organisation, Adventa Health Marketing will cease to be the subsidiary of Purnabina and will become a 100% wholly-owned subsidiary of Adventa.
1. Information on Purnabina
Purnabina is a private limited company incorporated in Malaysia under the Companies Act 1965 and has an authorised capital of RM10,000,000/- comprising 10,000,000 ordinary shares of RM1.00 each of which 10,000,000 ordinary shares have been issued and are fully paid-up.
2. Information on Adventa Health Marketing
Adventa Health Marketing is a private limited company incorporated in Malaysia under the Companies Act 1965 and has an authorised capital of RM100,000/- comprising 100,000 ordinary shares of RM1.00 each of which 3 ordinary shares have been issued and are fully paid-up.
3. Rationale for Re-organisation
The re-organisation of Purnabina and Adventa Health Marketing is to streamline the group structure of the Company.
4. Financial Effects
The re-organisation will not have any effect on the share capital, earnings and net assets per share of Adventa group as both Purnabina and Adventa Health Marketing are a 97.2% subsidiary and a wholly-owned subsidiary of the Company, respectively.
5. Directors' and Substantial Shareholders' Interests
None of the directors and/or substantial shareholders or persons connected to them, have any interest, direct or indirect in the above re-organisation.
6. Statement by Directors
The Board of Directors having considered all aspects of the re-organisation, is of the opinion that the re-organisation is fair and reasonable and in the best interest of Adventa group.
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