INTRODUCTION
The Board of Directors of Ekovest Berhad ("the Company") wishes to announce that Nuzen Corporation Sdn Bhd, a wholly-owned subsidiary of Wira Kristal Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company had on 5 February 2015 acquired the entire issued and paid-up share capital of DUKE Development Sdn Bhd ("DDSB") at a total purchase consideration of Ringgit Malaysia: Two only (RM2.00).
DETAILS OF DDSB
DDSB was incorporated on 8 January 2015 with an authorised share capital of RM400,000.00 and issued & paid-up share capital of RM2.00. DDSB is currently dormant.
DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST
Save for Datuk Lim Keng Cheng, who is a director in DDSB, none of other directors and/or major shareholders of the Company and/or persons connected with them have any interest, direct or indirect in the Acquisition.
EFFECTS OF THE TRANSACTION
The transaction does not have any effect on the share capital and/or substantial shareholders' shareholdings and are not expected to have any material effect on the earnings per share, net assets per share and gearing of the Ekovest Berhad Group.
APPROVAL REQUIRED
The transaction does not require the approval of shareholders and/or other relevant authorities.
