HLI signs sale & purchase deal with Deltrone Investments for Mpi Polyester Industries

27 May '05

3 min read

hong kong based hong leong industries berhad (hli) announces it has enters into a deal with deltrone investments to sale & purchase the share stock for mpi polyester industries.

hong leong industries berhad (“the company” or “hli”) writes to inform that it had, on 26 may 2005 entered into a sale and purchase agreement (“spa”) with deltrone investments ltd (“deltrone”) for the proposed disposal by hli of 40,000,000 ordinary shares of rm1.00 each and 6,800 redeemable preference shares of rm100.00 each (“sale shares”), representing the entire interests in mpi polyester industries sdn bhd (“mpipi”), to deltrone for cash consideration of ringgit malaysia twenty two million and eight hundred thousand.

hli was incorporated in malaysia on 5 may 1964 and is currently listed on the main board of bursa malaysia securities berhad. it has an authorised share capital of rm300,000,000.00 comprising 600,000,000 ordinary shares of rm0.50 each.

the present issued and paid-up share capital is rm112,901,208.00 comprising 225,802,416 ordinary shares of rm0.50 each. the adjusted issued and paid-up share capital taking into account the treasury shares held is rm109,229,208.00 comprising 218,458,416 ordinary shares of rm0.50 each.

hli is principally an investment holding company. the activities of hli's subsidiaries include manufacturing, testing and sale of integrated circuits, semiconductor devices, electronic components and leadframes, manufacture, assembly anddistribution of motorcycles, electric scooters and related parts and products and manufacture and sale of ceramic tiles.