Bursa Announcements News

Gamuda ("Gamuda" or "the Company") wishes to announce that the Company has on 18 August 2016 subscribed for 65% equity interest representing 64,999 ordinary shares of RM1.00 each in Gamuda Naim Engineering and Construction (GNEC) Sdn Bhd (formerly known as General Mission Sdn Bhd) (Company No. 1194678-D) (“GNEC”) for a total cash consideration of RM64,999/- only (“Subscription of Shares”).  With the Subscription of Shares, GNEC became a 65% owned subsidiary of Gamuda.

Brief Information on GNEC

GNEC was incorporated on 15 July 2016 as a private company limited by shares under the Companies Act, 1965 and is presently dormant. With the Subscription of Shares, the authorised and paid-up share capital of GNEC were increased to RM5,000,000/- and RM100,000/- respectively.

The shareholders of GNEC after the Subscription of Shares are Gamuda (65,000 : 65%) and Naim Engineering Sdn Bhd (35,000 : 35%).

Financial Effect of the Subscription of Shares

The Subscription of Shares is not expected to have any material effect on the earnings and net assets of Gamuda for the financial year ending 31 July 2017.

Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders of the Company and/or persons connected with them, has any interest, direct or indirect, in the Subscription of Shares.

This announcement is dated 18 August 2016.