The Ann Yak Sion Harware Company - 1487 Words

COMPANY PROFILE Authorized Capital During the financial year, the Company subdivided its authorized share capital from 100,000 ordinary shares of RM1.00 into 200,000 ordinary shares of RM0.50 each. Consequence thereof, the 4 ordinary shares of RM1.00 each issued and fully paid up capital be subdivided into 8 ordinary shares of RM0.50 each. Thereafter, the Company increased its authorised ordinary share capital from RM100,000 comprising of 200,000 ordinary shares of RM0.50 each to RM200,000,000 comprising ordinary shares of RM0.50 each by the creation of 399,800,000 new ordinary shares of RM0.50 each. During the financial year, in conjunction with the listing of the Company on the Main Market of Bursa Malaysia Securities Berhad, the Company issued 380,417,648 new ordinary shares at RM0.50 each (â€Å"new ordinary shares†) arising from the following:- (a) acquisition of the entire issued and paid up share capital of Ann Yak Siong Hardware Sdn. Bhd. of 6,810,0000 ordinary shares of RM1.00 each for a purchase consideration of RM172,000,000 satisfied by the issuance of 344,000,000 new ordinary shares of the Company at an issue price of RM0.50 each; (b) share exchange of entire issued and paid-up share capital of NV Multi Corporation Berhad (NV Multi) of 115,110,300 ordinary shares of RM0.01 each for 18,417,648 new ordinary shares of the Company at an issue price of RM0.50 each on the basis of 8 new ordinary shares of the Company for every 50 NV Multi ordinary shares of RM0.01 each;