Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.

VERTICE

0.285

-0.005 (-1.7%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS VERTICE BERHAD ("VERTICE" OR THE "COMPANY") PROPOSED DISPOSAL OF 60% EQUITY INTEREST IN KUMPULAN VOIR SDN BHD FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM16.41 MILLION ("PROPOSED DISPOSAL")

VERTICE BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
VERTICE BERHAD ("VERTICE" OR THE "COMPANY")

PROPOSED DISPOSAL OF 60% EQUITY INTEREST IN KUMPULAN VOIR SDN BHD FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM16.41 MILLION ("PROPOSED DISPOSAL")

We refer to the earlier announcements dated 13 December 2018, 31 January 2019, 18 February 2019, 15 March 2019, 13 May 2019, 15 July 2019, 29 August 2019, 24 February 2020, 10 April 2020, 30 June 2020, 12 August 2020, 11 September 2020 and 12 October 2020 in relation to the following:

 

(i)         proposed disposal of 60% equity interest in Kumpulan Voir Sdn Bhd (“Kumpulan Voir”) for a total cash consideration of approximately RM32.62 million (subject to adjustments set out in the conditional sale and purchase agreement dated 13 December 2018 with Seow Khim Soon (Executive Deputy Chairman) (“Purchaser”)) (“Initial Approved Disposal”); and

 

(ii)         upon completion of the Initial Approved Disposal, Vertice shall continue to provide corporate guarantee to the banking facilities procured by Kumpulan Voir (“Proposed Provision of Financial Assistance”).

 

On behalf of the Board of Directors of the Company (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company had on even date entered into a supplemental sale and purchase agreement with the Purchaser for the proposed disposal of 60% equity interest in Kumpulan Voir for a total cash consideration of approximately RM16.41 million (“Proposed Disposal”).

 

Please refer to the attached document for further details on the Proposed Disposal.

 

 

This announcement is dated 21 October 2020.




Please refer attachment below.



Announcement Info

Company Name VERTICE BERHAD
Stock Name VERTICE
Date Announced 21 Oct 2020
Category General Announcement for PLC
Reference Number GA1-21102020-00066