KUALA LUMPUR: BERJAYA LAND BHD []'s units disposed of 22.76 million BERJAYA SPORTS TOTO BHD [] (BToto) shares for RM101.821 million or at an average selling price of RM4.47.
It said on Monday, April 25 the shares were disposed of by Immediate Capital Sdn Bhd and Gateway Benefit Sdn Bhd in the open market from May 3, 2010 to April 25, 2011.
'The disposals resulted in a net loss of about RM6.07 million at the BLand group level,' it said. The disposed shares represented 1.70% equity interests in BToto.
BLand said the disposed shares which were purchased since 1992, have a total carrying value of about RM107.602 million in the books of BLand group. The net proceeds from the disposals were used as working capital and repayment of bank borrowings of the BLand group.
After the disposals, BLand and its unlisted subsidiaries now hold 577.25 million BToto shares or 43.16% equity interests in BToto.
It said on Monday, April 25 the shares were disposed of by Immediate Capital Sdn Bhd and Gateway Benefit Sdn Bhd in the open market from May 3, 2010 to April 25, 2011.
'The disposals resulted in a net loss of about RM6.07 million at the BLand group level,' it said. The disposed shares represented 1.70% equity interests in BToto.
BLand said the disposed shares which were purchased since 1992, have a total carrying value of about RM107.602 million in the books of BLand group. The net proceeds from the disposals were used as working capital and repayment of bank borrowings of the BLand group.
After the disposals, BLand and its unlisted subsidiaries now hold 577.25 million BToto shares or 43.16% equity interests in BToto.
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