Company Name
:
FITTERS DIVERSIFIED BERHAD
Stock Name
:
FITTERS  
Date Announced
:
09/01/2013


Type
:
Announcement
Subject
:
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS

Description
:
FITTERS DIVERSIFIED BERHAD ("FITTERS"")
Disposal of Shares in KPISOFT International Pte. Ltd. and KPISOFT Malaysia Sdn. Bhd.

Announcement Details/Table Section :

We refer to our announcement dated 21 November 2011. The Board of Directors of FITTERS DIVERSIFIED BERHAD ("FITTERS") wishes to announce that its wholly-owned subsidiary, Premier Equity Holdings Limited (BVI Company) ("Premier Equity") had on 9 January 2013 entered into a Share Sale Agreement with KPISOFT Capital Pte. Ltd., a company incorporated in Singapore to dispose of Premier Equity's holding in the shares of the following companies for a total cash consideration of Ringgit Malaysia: Five Million Five Hundred Thousand Only (RM5,500,000) ("the Disposal of Shares").



Name of Company No. of Shares
KPISOFT International Pte. Ltd. 60,000 ordinary shares of SGD1.00 each representing 30% of the total issued and paid-up share capital of KPISOFT International Pte. Ltd.
KPISOFT Malaysia Sdn. Bhd. 90,002 ordinary shares of RM1.00 each representing 30% of the total issued and paid-up share capital of KPISOFT Malaysia Sdn. Bhd.

The Disposal of Shares will not have any impact on the net assets, earnings and gearing of the FITTERS Group for the financial year ending 31 December 2013.

None of the Directors and Substantial Shareholders of FITTERS or persons connected to the Directors and/or Substantial Shareholders have any interest, direct or indirect in the Disposal of Shares.The Board after having considered all aspects, is of the opinion that the Disposal of Shares is in the best interest of the FITTERS Group.

This announcement is dated 9 January 2013.

© 2013, Bursa Malaysia Berhad. All Rights Reserved.


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