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BackDec 01, 2016
Type Announcement
Subject OTHERS
Description

ADDITIONAL SUBSCRIPTION OF 250,000 REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN FM HUBWIRE SDN. BHD.

Further to the announcements made on 31 March 2016, 5 April 2016, 15 April 2016 and 26 August 2016, the Board of Directors of Freight Management Holdings Bhd ("FMHB" or "the Company") wishes to announce that the Company has on 1 December 2016 subscribed for additional 250,000 Redeemable Convertible Preference Shares (“RCPS”) of RM1.00 each in the capital of FM Hubwire Sdn. Bhd. (“FMHSB”) for a total consideration of RM250,000, pursuant to the terms and conditions as stipulated in the Shareholders’ Agreement dated 31 March 2016 between the Company and the following parties:

 

  1. Hubwire Sdn. Bhd.(“HSB”);
  2. Yeo Hock Choon @ Mark Yeo (“MY”);
  3. Teoh Beng Keat (“TBK”);
  4. Liew Willip (“LW”); and
  5. FMHSB.

 

Equity Structure of FMHSB after Additional Subscription of RCPS

 

The authorised share capital of FMHSB is RM5,000,000.00 divided into 4,000,000 ordinary shares of RM1.00 each and 1,000,000 RCPS of RM1.00 each.

 

The issued and paid-up capital of FMHSB is RM1,750,000.00 divided into 1,000,000 ordinary shares of RM1.00 each and 750,000 RCPS of RM1.00 each as follows:

 

Shareholders

Number of Ordinary Shares of RM1.00 each

Number of RCPS of

RM1.00 each

HSB

250,000

-

FMHB

650,000

750,000

MY

30,000

-

TBK

20,000

-

LW

50,000

-

Total Issued and Paid-Up Capital

1,000,000

750,000

 

This announcement is dated 1 December 2016.





Announcement Info

Company Name FREIGHT MANAGEMENT HOLDINGS BERHAD
Stock Name FREIGHT
Date Announced 01 Dec 2016
Category General Announcement for PLC
Reference Number GA1-01122016-00025