General Announcement

Reference No KG-120126-7BCBD

Company Name

:

KNM GROUP BERHAD

Stock Name

:

KNM

Date Announced

:

26/01/2012

Type : Announcement

Subject : OTHERS

Description : NEW SUBSIDIARY - ENERGY PARK INVESTMENTS LIMITED Announcement Details/Table Section :

KNM Group Berhad ("KNM") is pleased to announce that its wholly owned subsidiary, KNM Project Services Limited ("KPSL"), had on 26 January 2012 completed the transfer of 310 shares of GBP1.00 each (representing 31% equity interest) in Energy Park Investments Limited ("EPIL") for a total cash consideration of GBP310.00 (approximately RM1,488.00) from Peterborough Renewable Energy Limited ("PREL") (the "Investment").
KPSL had initially taken a 49% equity stake in EPIL (comprising 490 shares of GBP1.00 each) from PREL on 1 July 2011 for the total cash consideration of GBP490.00 (approximately RM2,352.00). Pursuant to the completion of this transfer, EPIL has now become a new 80% subsidiary of KPSL.
EPIL was incorporated as a private limited company on 1 April 2010 and is principally an investment holding company. Its registered and paid up capital is GBP1,000.00 and its registered address is at Midas Building, Unit A, Roundhouse Close, Peterborough PE1 5TA, Cambridgeshire, United Kingdom. The remaining 20% shareholder of EPIL is PREL.
With the inclusion of EPIL as KNM's subsidiary and the proposed acquisition of the project land, KNM group would be able to assume greater control over the completion of the EPC Contract for the 80MWe Waste to Energy Plant awarded in 2010 (reference is made to KNM's earlier announcements dated 21 December 2010 and 25 January 2012).
No liabilities are to be assumed by KPSL pursuant to the Investment. The Investment also has no effect on the share capital, consolidated earnings and net assets, gearing or substantial shareholders shareholdings of KNM.
None of the directors and/or major shareholders of KNM and/or any persons connected with them have any interest, direct or indirect in the above Investment.
This announcement is dated 26 January 2012.

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