INFORMATION ON MRPSB BEING THE JVC Sample Clauses

INFORMATION ON MRPSB BEING THE JVC. MRPSB was incorporated in Malaysia under the Companies Act, 1965 on 2nd January 2011 and registered under the Companies Act, 2016. The principal activity of MRSB is in construction activities. The issued share capital of MRSB is RM1,000,000.00 comprising of 1,000,000 ordinary shares. The current directors of MRPSB are Dato’ Xxxxxx Xxxxx Bin Xxxx Xxxxxx and Xxxxxxxx Xxxxx Bin Xxxxxx Xxxxx, while the shareholders and shareholding of MRPSB before JKI- MRSB SSA are as below: Shareholders No. of Shares held % MRSB 1,000,000 100 Total 1,000,000 100.000 4. DETAILS OF SHAREHOLDING IN THE PROPOSED JOINT VENTURE The mechanism of the Proposed Joint Venture involves the transfer of 700,000 ordinary shares in MRPSB from the existing shareholder of MRPSB being MRSB to JKI at a price of RM1.00 per ordinary share for a total acquisition price of RM700,000 only (“Acquisition Price”). Upon completion of the Acquisition, the shareholding structure of MRPSB shall be as follows: Parties Equity Proportions JKI 70% MRSB 30% Total 100%
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Related to INFORMATION ON MRPSB BEING THE JVC

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