Introduction

The Company has on 28 March 2016, acquired the entire issued and paid-up capital of FM Hubwire Sdn. Bhd. (“FM Hubwire”) comprising of two (2) ordinary shares of RM1.00 each  for a cash consideration of RM2.00. Following the Acquisition, FM Hubwire will be a wholly-owned subsidiary of the Company.

Information on FM Hubwire

FM Hubwire is a company incorporated on 31 December 2015 with an authorised share capital of RM400,000.00 divided into 400,000 ordinary shares of RM1.00 each and an issued paid-up capital of RM2.00. FM Hubwire is currently dormant and the intended principal activity is to carry out e-commerce business.

Financial effects of the Acquisition

The Acquisition will not have any effect on the Group’s earnings, net assets and gearing for the financial year ending 30 June 2016.

Approvals Required

The Acquisition does not require the approval of the shareholders of the Company or any governmental authorities.

Interests of Directors, Major Shareholders and Persons Connected

None of the directors and/or major shareholders and/or persons connected with a director or major shareholder of FMHB has any interest, direct and/or indirect in the Acquisition.

Directors’ Statement

The Acquisition is in line with the Group’s expansion needs.

This announcement is dated 28 March 2016.