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 announcements made on 3 January 2020 and 19 March 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 announcements shall apply herein.
The Board would like to inform that the HOA was terminated as the Parties were unable to agree to the commercial terms of the Definitive Agreements.
The Board also wishes to clarify that upon the termination, KAB shall be entitled at its sole discretion to exercise the remedy of seeking monetary compensation from LSB including but not limited to the cost and expenses incurred pertaining to the Proposed Investment according to the HOA.
This announcement is dated 24 March 2020.
Announcement Info
| Company Name | KEJURUTERAAN ASASTERA BERHAD |
| Stock Name | KAB |
| Date Announced | 24 Mar 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-20032020-00052 |
Kinergy Advancement Berhad
No. 18, Jalan Radin Bagus 9, Bandar Baru Sri Petaling, 57000 Kuala Lumpur, Malaysia.