Author Topic: VASTALUX : SHOULD COME DOWN HARD ON FORCE-SELLING OF YESTERDAY HIGH VOLUME  (Read 1154 times)

Offline my1msia

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General Announcement (20100419GA00209) 
Company Name VASTALUX ENERGY BHD 
Stock Code / Short Name 7251 / VASTALX
Date & Time Announce 19/04/2010 6:20:00 PM
Subject Clarification of the Article Appearing on The Edge 

Content
Vastalux Energy Berhad ("VEB" or "The Company")
Clarification of the Article Appearing on The Edge
Reference is made to the article titled Shapadu emerging as a white knight for
Vastalux in The Edge dated 19 April 2010.
The Company wish to inform that it had on 23 March 2010 expressed its intention
to enter into negotiations to acquire up to 51% of the entire paid up capital
of Shapadu Energy and Engineering Sdn Bhd (SEEN). However, the negotiations
are still ongoing and are at the preliminary stages.
The Company wish to inform that at the moment , SEEN or any other entity
within the Shapadu Group of Companies is not taking over Vastalux nor will it
inject its assets into Vastalux to be satisfied via issuance of new shares of
Vastalux as stated in the said article.
Nevertheless, should the negotiations materializes into an agreement, we will
inform Bursa accordingly.