News

Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions

BackApr 24, 2020
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description

PROPOSED ACQUISITIONS BY KAB ENERGY POWER SDN BHD (KABEP), A 90% SUBSIDIARY OF KAB OF:
(I) 2,000,000 ORDINARY SHARES IN KONPRO INDUSTRIES SDN BHD (KONPRO); AND
(II) 600,000 ORDINARY SHARES IN MERU ONE SDN BHD (MERU),
BOTH REPRESENTING 80% EACH OF THE TOTAL PAID UP SHARE CAPITAL IN KONPRO AND MERU, FROM INVEST ENERGY SDN BHD (INVEN) FOR A TOTAL CASH CONSIDERATION OF RM7,260,000.00 AND ASSUMPTION OF LIABILITIES OF RM4,240,000.00 (PROPOSED ACQUISITIONS)

Reference is made to the announcement dated 25 March 2020. Unless otherwise stated, defined terms used in this announcement shall have the same meanings as those used in the earlier announcement.

 

The Board of Directors of KAB wishes to announce that KABEP and INVEN had on 24 April 2020 mutually agreed to further extend the period for additional 60 days from 24 April 2020 to enable both parties to enter into formal agreements for the Proposed Acquisitions subject to satisfactory due diligence.

 

This announcement is dated 24 April 2020.





Announcement Info

Company Name KEJURUTERAAN ASASTERA BERHAD
Stock Name KAB
Date Announced 24 Apr 2020
Category General Announcement for PLC
Reference Number GA1-23042020-00017