Reference is made to the announcements dated 22 September 2010, 2 February 2011, 8 August 2011 and 30 September 2011 (“Earlier Announcements”).
Unless otherwise stated, the abbreviations use throughout this announcement shall have the same meaning as those previously defined in the Earlier Announcements.
The Board of Directors of KPJ (“Board”) wishes to announce that KPJSB had, on 29 November 2011, exercised the Call Option to require JGWT to issue 275,704 ordinary shares and 2,481,311 New A Class Convertible Notes in JGWT at AUD equivalent to RM14,250,001.45 at the exchange rate prevalent on the date of payment.
The Call Option was completed on 30 November 2011 with the receipt of the aforementioned option consideration by JGWT as well as the issuance of the 275,704 ordinary shares and 2,481,311 New A Class Convertible Notes in JGWT to KPJSB.
In view of the above, JGWT is now a subsidiary of KPJSB and thereon KPJ, commencing from 30 November 2011.
The announcement is dated 30 November 2011.
