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BackOct 30, 2013

Type

Announcement

Subject

OTHERS

Description

PRESTARIANG BERHAD ("Prestariang” or “Company”)
Appointment of Prestariang Systems Sdn Bhd, the wholly owned subsidiary of Prestariang, by Autodesk Asia Pte. Ltd. (“Autodesk”) as Autodesk Education Partner

INTRODUCTION

The Company is pleased to announce that today, its wholly-owned subsidiary, Prestariang Systems Sdn Bhd (“PSSB”) had received an Education Partner Agreement signed by Autodesk on 29 October 2013. The appointment as the Autodesk Education Partner with Autodesk will be for a period of one (1) year effective from 18 October 2013. The term may be extended by mutual consent of both PSSB and Autodesk vide a written agreement.

OBJECTIVE

Autodesk appoints PSSB as its Autodesk Academic Partner in Malaysia and authorizes PSSB to engage in faculty training, faculty deployment and other activities set forth in the Agreement (“Appointment”).

Autodesk and PSSB has agreed that the objective of the Education Adoption Program is to drive Autodesk Education strategy of Access, Use and Advocacy of Autodesk Technology in Malaysia Education Market.

FINANCIAL EFFECTS

The Appointment is expected to contribute positively to the future earnings, net assets per share and gearing of Prestariang.

The Appointment will not have any effect on the share capital and substantial shareholders’ shareholding of Prestariang.

DIRECTORS’ AND/OR SUBSTANTIAL SHAREHOLDERS’ INTEREST

None of the Directors and/or substantial shareholders or any person connected to the Directors and/or substantial shareholders of Prestariang has any interest, either direct or indirect in the Appointment.

DIRECTORS’ STATEMENT

The Board of Directors of Prestariang is of the opinion that the Appointment is in the ordinary course of business and of the best interest of Prestariang.

This announcement is dated 30 October 2013.

Announcement Info

Company Name

PRESTARIANG BERHAD

Stock Name

PRESBHD

Date Announced

30 Oct 2013