Proposed Acquisition By KAB Energy Power Sdn Bhd ("KABE"), A 90% Subsidiary Of KAB, Of 7 Ordinary Shares In KIEV CRG Sdn. Bhd. ("KIEV"), Representing 70% Of The Total Paid Up Share Capital In KIEV For A Total Cash Consideration Of RM175,000.00 ("Proposed Acquisition")
| Type | Announcement |
| Subject | OTHERS |
| Description |
KEJURUTERAAN ASASTERA BERHAD ("KAB" OR "THE COMPANY") - PROPOSED ACQUISITION BY KAB ENERGY POWER SDN BHD ("KABE"), A 90% SUBSIDIARY OF KAB, OF 7 ORDINARY SHARES IN KIEV CRG SDN. BHD. ("KIEV"), REPRESENTING 70% OF THE TOTAL PAID UP SHARE CAPITAL IN KIEV FOR A TOTAL CASH CONSIDERATION OF RM175,000.00 ("PROPOSED ACQUISITION") |
Pursuant to Rule 10.05 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“AMLR”), the Board of Directors of KAB (“Board”) wishes to announce that KAB Energy Power Sdn Bhd ("KABE"), a 90% subsidiary of KAB and Tree Hill Sdn Bhd [Company No. 199301017654 (272392-W)] (“THSB”) (“Purchasers”) have on 5 February 2020 entered into a Sale and Purchase Agreement (“SPA”) with KIEV Energy Sdn Bhd [Company No. 201801028588 (1290614-K)] (“Vendor”) to acquire the entire issued shares in KIEV (“Shares”) for a total cash consideration of RM250,000.00 (“Purchase Consideration”) (“the Proposed Acquisition”).
Please refer to the attachment for further details on the Proposed Acquisition.
Please refer attachment below.
Announcement Info
| Company Name | KEJURUTERAAN ASASTERA BERHAD |
| Stock Name | KAB |
| Date Announced | 05 Feb 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-03022020-00017 |
Attachments
- KAB_-_Cogen_Press_Release.pdf (Size: 445,281 bytes)
- KAB-Transaction-Proposed_acquisition_of_7_Shares_in_KIEV.pdf (Size: 297,437 bytes)
Kinergy Advancement Berhad
No. 18, Jalan Radin Bagus 9, Bandar Baru Sri Petaling, 57000 Kuala Lumpur, Malaysia.