TECHNAX

0.015

+0.005 (+50%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SINO HUA-AN INTERNATIONAL BERHAD ("Hua-An" or "Company") (A) DEED OF REVOCATIONS; AND (B) SHARE PURCHASE AGREEMENT FOR THE PROPOSED ACQUISITION OF 20,000 ORDINARY SHARES REPRESENTING THE ENTIRE EQUITY INTEREST IN HK AEROSPACE BEIDOU NEW ENERGY INDUSTRY TECHNOLOGY CO LTD ("HK Aerospace")

SINO HUA-AN INTERNATIONAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
SINO HUA-AN INTERNATIONAL BERHAD ("Hua-An" or "Company")

(A)	DEED OF REVOCATIONS; AND 
(B)	SHARE PURCHASE AGREEMENT

FOR THE PROPOSED ACQUISITION OF 20,000 ORDINARY SHARES REPRESENTING THE ENTIRE EQUITY INTEREST IN HK AEROSPACE BEIDOU NEW ENERGY INDUSTRY TECHNOLOGY CO LTD ("HK Aerospace")

Reference is made to the Company’s announcement on 3 July 2020. 

 

The Board of Directors of Hua-An wishes to announce the following:

 

(a)     The Company, Dr. Wan Muhamad Hasni Bin Wan Sulaiman, Nong You Hua, Satriya Bin Suetoh (collectively referred to as the “Vendors”) and HK Aerospace had on 7 August 2020 entered into a Deed of Revocation to revoke and rescind the Subscription Agreement dated 3 July 2020 in relation to the proposed subscription of 8,000 ordinary shares representing 28.6% of the enlarged issued, fully diluted and paid up share capital of HK Aerospace (after the enlargement of the share capital of HK Aerospace pursuant to the Subscription Agreement) for a total purchase consideration of USD10.0 million, subject to the terms and conditions as stipulated in the Deed of Revocation; 

 

(b)     The Company and the Vendors had on 7 August 2020 entered into a Deed of Revocation to revoke and rescind the Share Purchase Agreement dated 3 July 2020 in relation to the proposed acquisition of 20,000 ordinary shares, representing the entire equity interest in HK Aerospace (before the enlargement of the share capital of HK Aerospace) for a total purchase consideration of USD25.0 million, subject to the terms and conditions as stipulated in the Deed of Revocation; and 

 

(c) The Company and the Vendors had on 7 August 2020 entered into a new Share Purchase Agreement for the proposed acquisition of 20,000 ordinary shares in HK Aerospace, representing the entire equity interest in HK Aerospace, for a total purchase consideration of USD25.0 million. 

 

Please refer to the attachment for details of the announcement.

 

This announcement is dated 7 August 2020.




Please refer attachment below.



Announcement Info

Company Name SINO HUA-AN INTERNATIONAL BERHAD
Stock Name HUAAN
Date Announced 07 Aug 2020
Category General Announcement for PLC
Reference Number GA1-05082020-00064