SIME DARBY TO DISPOSE OF STAKE IN EASTERN & ORIENTAL FOR RM93.5 MLN
KUALA LUMPUR, March 26 -- Sime Darby Bhd’s indirect subsidiary, Sime Darby Nominees Sdn Bhd will be disposing of its entire stake in Eastern & Oriental Bhd (E&O) for RM93.5 million or RM0.60 per share.
In a filing with Bursa Malaysia, Sime Darby said the move to dispose of its stake of 10.89 per cent in the Penang-based property developer group was consolidated by entering into a share sale agreement with the single largest shareholder of E&O, Amazing Parade Sdn Bhd, today.
It said the disposal was in line with its ongoing non-core asset rationalisation exercise to monetise its non-core assets.
“The disposal exercise is not expected to have any material effect on the earnings per share, net assets per share, and gearing of Sime Darby for the financial year ending June 30, 2021,” it said.
The trading conglomerate added that the total proceeds would be received by Sime Darby Nominees upon the settlement on March 30, 2021.
Sime Darby ended one sen easier at RM2.40 on Bursa Malaysia today, with 3.96 million shares traded.
-- BERNAMA
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