Alam Maritim Acquires Alam Hidro’s Shares

Alam Maritim Sdn Bhd, a wholly owned subsidiary of AMRB had on 19 December 2013 entered into Share Sale and Purchase Agreements with Encik Azman bin Shabudin and Encik Mohd Fozi bin Ismail respectively for the purchase of the 30% of the remaining paid-up share capital of Alam Hidro Sdn Bhd comprising of 150,000 ordinary shares of RM1.00 each share for a total cash consideration of RM1,200,000.00.

INFORMATION ON AHSB

AHSB is a company incorporated in Malaysia with an authorised share capital of 500,000 ordinary shares of RM1.00 each of which 500,000 ordinary shares of RM1.00 each have been issued and fully paid up.

The principal activities of AHSB are offshore facilities construction, installation, subsea engineering and underwater services.

TRANSFER AND ACQUISITION OF SHARES

On 6 December 2013 , the respective Board of Directors of AHSB and AMSB, via directors’ circular resolutions, approved the transfer of shares and acquisition of shares respectively and the exercises were completed on the 19 December 2013.

FINANCIAL EFFECTS

The Acquisition will not have any effect on the issued and paid-up share capital and the shareholding structure of AMRB, nor will it have any material effect on the consolidated earnings or net assets of AMRB for the financial year ending 31 December 2013.

DIRECTORS’ STATEMENT

The Board of Directors of ALAM is of the opinion that the said transfers are in the best interest of the AMRB Group of Companies.

Press Release, December 30, 2013

 

 

Share this article

Follow Subsea World News

Events>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

RIO OIL & GAS 2018

The leading oil and gas event in Latin America is organized every two years by the Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >

Undersea Defence Technology (UDT)

It brings together professionals from the military, industry and academia to focus on the cutting edge technologies and developments within…

read more >

Subsea Connect EMEA 2018

The first ever Subsea Connect welcomed 248 attendees from 100 companies, representing 31 countries…

read more >

ONS 2018

Offshore Northern Seas (ONS) provides a platform for the presentation of the political, economic and technological issues involving…

read more >