In a Bursa Malaysia announcement on Monday, Nov 1, it said the shares arose from recently converted redeemable convertible secured loan stock-D (RCSLS-D) acquired on Sept 9, after shareholders voted in favour of the move in an EGM on Nov 4 last year.
K-Euro said a net profit of RM210,000 or 0.04 sen per share arose from the disposal, while its net assets also increased by 0.04 sen to 19 sen per share.
Proceeds from the sale will be used to pay creditors, the group said. The sale also slightly lowered the group's gearing ratio to 2.94 from 2.95, based on its audited financial statements as at Jan 31.
According to the group, the shares were sold on the open market at 10 sen apiece.
TOP PICKS BY EDGEPROP
2.9 ACRES BUMI LAND, BUKIT KAPAR, KLANG RM2.4M
Europe Style - Freehold 1 Storey Bungalow Seremban
Seremban, Negeri Sembilan
Almyra Residences @ Bandar Puteri Bangi
(Full loan)22x80sqft -2Sty Tmn Klang Ria 2,Sentosa
Build your own semi d / bungalow in ampang
BANGLO SATU TINGKAT, TAMAN SERI RANTAU, RANTAU PAN
RENOVATED 2 storey FASA 2 Puncak Alam KITCHEN CABI
Bandar Puncak Alam, Selangor