September 25, 2009
Kuala Lumpur, 25 September 2009 - In reference to the announcement made on 2 November 2004 and 1 November 2007 respectively pertaining to the Joint Venture with SpringTrax Sdn Bhd (“STSB”), the Board of Directors (“Board”) of eBworx is pleased to announce that eBworx has today entered into a Share Sale Agreement (“SSA”) with STSB for acquisition of 250,000 ordinary shares of RM1 each, representing 49% of the total issued and paid-up share capital in SpringWorx, for a total cash consideration of RM250,000 (“Proposed Acquisition”).
Consequent to the Proposed Acquisition, the shareholding of SpringWorx will increase from 51% to 100%.
The Directors of SpringWorx presently are Ms. Lim Chui Wha, Mr. Chen Kwek Kong and Mr. Tan Suan Fong (alternate to Mr. Chen Kwek Kong).
Presently, the issued and paid-up capital of SpringWorx is RM510,204 divided into 510,204 ordinary shares of RM1.00 each. The principal activities of SpringWorx are the research, development and commercialization of banking and finance software solutions for the banking and financial services industry.
The Proposed Acquisition will not have any effect on the share capital, substantial shareholders’ shareholding, consolidated earnings, net assets and gearing of the eBworx.
None of the Directors, substantial shareholders of eBworx or persons connected with them has any interest, direct or indirect in the Proposed Acquisition.
Search
Malaysia