Serba Dinamik Holdings Bhd’s wholly-owned subsidiary, Serba Dinamik Sdn Bhd (SDSB). has proposed to subscribe shares in E&E Gas Sdn Bhd (EGSB) worth RM26.44 million.
In an exchange filing yesterday, Serba Dinamik noted the proposed subscription of 366,013 ordinary shares of RM43.71 each in EGSB, representing 42.26% equity interest in EGSB for a consideration of RM16 million.
It will also subscribe to 10.45 million redeemable convertible preference shares of RM1.00 each in EGSB for RM10.45 million. Arising from the above, EGSB had on even date, awarded SDSB the engineering, procurement, construction and commissioning contract for the construction and commissioning of the facilities in a contract valued at RM332.8 million.