Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
KEJURUTERAAN ASASTERA BERHAD ("KAB" OR THE "COMPANY") PROPOSED INVESTMENT BY KAB, OF 37,500 ORDINARY SHARES IN LEVERAGEDGE SDN. BHD. (LSB), REPRESENTING 30% OF THE TOTAL PAID UP SHARE CAPITAL IN LSB FOR A TOTAL CASH CONSIDERATION OF RM2,100,000.00 (PROPOSED INVESTMENT) |
Reference is made to the Company's announcement made on 3 January 2020 in relation to the Heads of Agreement ("HOA") entered between KAB, LSB and Loo Chun Keat (collectively referred to as "the Parties"). Unless otherwise stated, the definitions set out in the said announcement shall apply herein.
The Board of Directors wishes to announce that, after due consideration, the Parties have on 19 March 2020 mutually agreed to terminate the HOA with immediate effect.
Upon the termination, LBS shall refund the refundable initial deposit of RM1,000.00 to KAB within three working days and the HOA shall have no further force or effect and neither party shall have claim whatsoever against the other, whether directly or indirectly in respect of the HOA.
The termination will not have any material financial impact on KAB.
This announcement is dated 19 March 2020.
Announcement Info
| Company Name | KEJURUTERAAN ASASTERA BERHAD |
| Stock Name | KAB |
| Date Announced | 19 Mar 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-16032020-00010 |
Kinergy Advancement Berhad
No. 18, Jalan Radin Bagus 9, Bandar Baru Sri Petaling, 57000 Kuala Lumpur, Malaysia.