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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ACQUISITION OF 100% EQUITY INTEREST IN SPARKLE GATEWAY SDN. BHD. BY ITS SUBSIDIARY COMPANY, PARK AVENUE CONSTRUCTION SDN. BHD.

ATTA GLOBAL GROUP BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ACQUISITION OF 100% EQUITY INTEREST IN SPARKLE GATEWAY SDN. BHD. BY ITS SUBSIDIARY COMPANY, PARK AVENUE CONSTRUCTION SDN. BHD.

The Board of Directors of ATTA wishes to announce that Park Avenue Construction Sdn. Bhd. (“PAC” or “the Purchaser”), a wholly-owned subsidiary of ATTA, had on 26 September 2018 entered into a Shares Sale Agreement (“SSA”) with Tan Sri Dato’ Dr. Khor Eng Chuen, JP (NRIC No. 640813-02-5615) (“the Vendor”) for the acquisition of 2 ordinary shares (“Sale Shares”) representing 100% equity interest in SPARKLE GATEWAY SDN. BHD. (1193999-P) (“SGSB”) for a total consideration of RM15,000,000 to be satisfied as follows:

a)   RM2.00 as consideration on acquiring 2 ordinary shares from Tan Sri Dato’ Dr. Khor Eng Chuen, JP; and

b)   the remaining sum of RM14,999,998.00 as borrowings or advances from PAC to SGSB (“PAC’s obligation”) for the purpose of repayment of Director’s advances.

(herein referred to as "Proposed Acquisition")

Upon completion of the Proposed Acquisition, SGSB will become a wholly owned subsidiary of PAC, a wholly owned subsidiary of ATTA.

Please refer to the attached file for the full text of the Announcement.

This announcement is dated 26 September 2018.




Please refer attachment below.



Announcement Info

Company Name ATTA GLOBAL GROUP BERHAD
Stock Name ATTA
Date Announced 26 Sep 2018
Category General Announcement for PLC
Reference Number GA1-26092018-00019