News

Pursuant to Paragraph 10.05(2) of the Main Market Listing Requirement (“MMLR”) of Bursa Malaysia Securites Berhad (“Bursa Securities”), the Board of Directors of KAB wishes to announce that KAB Energy Holdings Sdn. Bhd. [Registration No. 202101013322 (1413621-K)], a wholly-owned subsidiary of KAB (“KABEH” or “the Purchaser”) had on 18 August 2022 entered into a Share Sale Agreement (“SSA” or “the Agreement”) with Unique Forging & Components Sdn. Bhd. [Registration No. 198901006118 (183423-W)] (“UFC” or “the Vendor”) for the purpose of acquisition of 1,000,000 Ordinary Shares in the Matahari Suria Sdn. Bhd. (“MSSB”) [Registration No. 201401048077 (1124266X)], a wholly-owned subsidiary of the Vendor for a total purchase consideration of approximately RM5,300,000/- (Ringgit Malaysia: Five Million Three Hundred Thousand) only (“Proposed Acquisition”), provided always that as from the prescribed completion date, MSSB’s assets are free from any encumbrances, and the total purchase consideration shall be varied subject to satisfactory of due diligence findings and the terms and conditions stated therein the SSA.

Please refer to the attachment for further details of the announcement.

This announcement is dated 18 August 2022.