Posted by kk123 > 2016-11-04 11:26 | Report Abuse

Source: http://www.thestar.com.my/business/business-news/2016/11/04/dnonce-mulls-venture-with-lay-hong/ PETALING JAYA: D’nonce Technology Bhd is exploring the possibility of a packaging supplies venture via a strategic alliance with poultry firm, Lay Hong Bhd. Citing a StarBiz report yesterday, the packaging materials supplier told the local bourse that it was in preliminary discussions with Lay Hong. It, however, denied that both parties would be involved in a corporate exercise. “The major shareholder confirmed that there is a preliminary discussion with Lay Hong on the equity, but nothing has been finalised,” D’nonce told Bursa Malaysia yesterday. “The company denies that Lay Hong is taking up the private placement with warrants in D’nonce, as we have not finalised any placees at this juncture,” it added. StarBiz reported yesterday that Lay Hong was looking to take up a controlling stake in D’nonce via a combination of a private placement exercise and the acquisition of an existing block from one of the existing shareholders. “The company has promptly conducted a due and diligent enquiry with all the directors, major shareholders and all other persons reasonably familiar with the matters about which the disclosure is to be made in this respect,” said D’nonce. “We wish to inform that D’nonce is exploring with Lay Hong on the possibility of synergistic alliance for packaging supplies.” The company added that it would make the necessary announcement at the appropriate time when there are “material developments relating to the same”. D’nonce is also involved in packaging design, packaging converting and corrugated cardboard making. Its other core businesses include contract manufacturing, supply chain management and polymer engineering products. The loss-making D’nonce presently has a market capitalization of only RM49.6mil, consisting of 180.4 million shares and a book value of 36 sen per share as of Aug 31, 2016. Shares of D’nonce are up some 10.5 sen to 29.5 sen on a year-to-date basis.