| General Announcement|
Reference No O&-061201-41604
|Submitting Merchant Bank||:||K & N KENANGA BHD|
|Company Name||:||REXIT BERHAD (MESDAQ Market)|
|Stock Name ||:||REXIT|
|Subject||:||REXIT BERHAD ("REXIT" or "COMPANY")|
INCORPORATION OF NEW SUBSIDIARY – REXIT INTERNATIONAL SDN BHD
On behalf of the Board of Directors of Rexit,
K&N Kenanga Bhd wishes to announce that a new subsidiary, Rexit
International Sdn Bhd ("Rexit International")
has been incorporated in Malaysia on 29 November 2006 pursuant to the
joint-venture between Rexit and Marubeni Corporation of Japan. Rexit
holds 51% equity interest in Rexit International, while Marubeni holds
the remaining 49% equity interest.
As at todate, the authorised share capital of Rexit International is RM22,000,000 comprising 22,000,000 shares of RM1.00 each ("Shares"), while its issued and paid-up share capital is RM100 comprising 100 Shares.
Pursuant to the joint venture agreement, the issued
and paid-up share capital of Rexit International will be increased to
RM8,000,000 comprising 8,000,000 Shares.
This announcement is dated 1 December 2006.
2007, Bursa Malaysia Berhad. All Rights Reserved.