TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PANTECH GLOBAL BERHAD ("PANTECH GLOBAL" OR THE "COMPANY") (I) PROPOSED ACQUISITION OF A PARCEL OF FREEHOLD LAND IN THE MUKIM OF KAPAR, DISTRICT OF KLANG, STATE OF SELANGOR MEASURING APPROXIMATELY 4.84 ACRES FOR A TOTAL CASH CONSIDERATION OF RM29.00 MILLION; AND (II) PROPOSED VARIATION TO THE UTILISATION OF PROCEEDS OF RM38.00 MILLION RAISED FROM PANTECH GLOBAL'S INITIAL PUBLIC OFFERING WHICH WAS COMPLETED ON 3 MARCH 2025 TO FUND THE PROPOSED ACQUISITION
| PANTECH GLOBAL BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | PANTECH GLOBAL BERHAD ("PANTECH GLOBAL" OR THE "COMPANY")
(I) PROPOSED ACQUISITION OF A PARCEL OF FREEHOLD LAND IN THE MUKIM OF KAPAR, DISTRICT OF KLANG, STATE OF SELANGOR MEASURING APPROXIMATELY 4.84 ACRES FOR A TOTAL CASH CONSIDERATION OF RM29.00 MILLION; AND
(II) PROPOSED VARIATION TO THE UTILISATION OF PROCEEDS OF RM38.00 MILLION RAISED FROM PANTECH GLOBAL'S INITIAL PUBLIC OFFERING WHICH WAS COMPLETED ON 3 MARCH 2025 TO FUND THE PROPOSED ACQUISITION |
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The Board of Directors (“Board”) of Pantech Global wishes to announce that the Company is proposing to undertake the following proposals:
(I) Pantech Steel Industries Sdn Bhd (“PSI” or the “Purchaser”), the wholly-owned subsidiary of the Company had on 15 August 2025, entered into a sale and purchase agreement (“SPA”) with Uptown Promenade Sdn Bhd (“Uptown” or “Vendor”) for the proposed acquisition of a parcel of freehold land situated at HS(D) 169727, PT 87823 in the Mukim of Kapar, District of Klang, State of Selangor, measuring approximately 4.84 acres (“Proposed New Land”) for a total of purchase consideration of RM29.00 million (“Purchase Consideration”) (“Proposed Acquisition”); and
(II) Proposed variation to the utilisation of proceeds of RM38.00 million raised from Pantech Global’s Initial Public Offering (“IPO”) (“IPO Proceeds”) which was completed on 3 March 2025 to fund the Proposed Acquisition (“Proposed Variation”).
The Proposed Acquisition and the Proposed Variation shall hereinafter be collectively referred to as the “Proposals”.
Further details of the Proposals are set out in the below attachment.
This announcement is dated 15 August 2025. |
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Please refer attachment below.
Announcement Info
| Company Name | PANTECH GLOBAL BERHAD |
| Stock Name | PGLOBAL |
| Date Announced | 15 Aug 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14082025-00021 |