Pursuant to paragraph 14.08 (d) of the Main Market Listing Requirements of Bursa Malaysia Securities
Berhad, Mr Lim Kian Onn, a Director of the Company, has given notice of his dealing in the ordinary shares of ECM during the closed period as set out below:
Date Acquired |
No. of Shares |
% of Issued Share Capital |
Price per Share (RM) |
16.05.2018 |
21,779,413 |
4.87% |
0.36 |
The above dealing is in respect of an allotment and issuance of new ordinary shares in ECM to Mr Lim Kian
Onn consequent to the acquisition by ECM from TP Real Estate Holdings Pte Ltd ("TPRE") of 50% equity
interest in TP Sepang Sdn Bhd, TP International Pty Ltd and Yummy Kitchen Sdn Bhd, and 40.005% equity
interest in TP Hotel (Flinders) Trust (together with 40.005% of the rights and benefits to the total advances
owing by TP Hotel (Flinders) Trust) for which the purchase consideration has been satisfied via the allotment
and issuance of 160,205,555 new ordinary shares in ECM ("Consideration Shares") to the shareholders of
Tune Hotels.Com Limited ("THCL") who include Mr Lim Kian Onn, under the plan of arrangement undertaken
by THCL with its shareholders pursuant to Section 118 of the Labuan Companies Act. THCL is a shareholder
of TPRE. The plan of arrangement involved principally, (i) the reduction in the share capital of THCL through
the distribution in specie of the redeemable preference shares of TPRE held by THCL to the shareholders of
THCL in proportion to their respective shareholdings in THCL; and (ii) the redemption of such redeemable
preference shares by TPRE from the shareholders of THCL using the Consideration Shares in proportion to
their respective shareholdings in THCL.
This announcement is dated 17 May 2018.
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