Kuala Lumpur Stock Exchange Signs Sale & Purchase Agreement With Symphony On Sale Of Malaysian Share Registration Services

Kuala Lumpur Stock Exchange (KLSE) and Symphony House Berhad (Symphony) today signed a Sale & Purchase Agreement for the proposed disposal of Malaysian Share Registration Services Sdn Bhd (MSRS) by KLSE to Symphony.

The sale involves the disposal by KLSE of its 100% interest in MSRS comprising ordinary shares and redeemable convertible unsecured loan stocks for a total cash consideration of RM6,000,000.

MSRS, a wholly-owned subsidiary of KLSE was incorporated in Malaysia on 7 March 1996 with an authorised and paid-up share capital of RM10,000,000 comprising 10,000,000 ordinary shares of RM1.00 each, of which 2,000,000 have been issued and fully paid-up.

MSRS is principally engaged in the provision of share registration services mainly to companies listed on KLSE.

The Sale is subject to the approval of the Foreign Investment Committee and is expected to be completed by end of December.