News

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

BackAug 26, 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 announcements dated 25 March 2020, 24 April 2020 and 23 June 2020. Unless otherwise stated, defined terms used in this announcement shall have the same meanings as those used in the earlier announcements.

 

The Board of Directors of KAB wishes to announce that KABEP and INVEN had on 26 August 2020 mutually agreed to further extend the period until 22 September 2020 to enable both parties to enter into formal agreements for the Proposed Acquisitions.

 

This announcement is dated 26 August 2020.





Announcement Info

Company Name KEJURUTERAAN ASASTERA BERHAD
Stock Name KAB
Date Announced 26 Aug 2020
Category General Announcement for PLC
Reference Number GA1-26082020-00061