ENG

1.990

(%)

Circular/Notice to Shareholders

ENG TEKNOLOGI HOLDINGS BHD

SubjectCIRCULAR TO SHAREHOLDERS in relation to

(I) PROPOSED DISPOSAL OF THE COMPANY’S 100% EQUITY INTEREST IN ITS WHOLLY-OWNED SUBSIDIARY, ENGTEK PRECISION (THAILAND) CO., LTD. ("ETTH") TO ALTUM PRECISION PTE LTD ("ALTUM") FOR A TOTAL CONSIDERATION OF SGD4.5 MILLION (OR RM9.9 MILLION BASED ON THE EXCHANGE RATE OF APPROXIMATELY RM2.20 PER SGD1.00) TO BE WHOLLY SATISFIED THROUGH THE ISSUANCE OF 1,810,865 NEW ORDINARY SHARES OF SGD1.00 EACH IN ALTUM ("ALTUM SHARES") REPRESENTING 12.62% EQUITY INTEREST OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF ALTUM, AT AN ISSUE PRICE OF APPROXIMATELY SGD2.485 (OR APPROXIMATELY RM5.467) PER ALTUM SHARE ("PROPOSED DISPOSAL")

(II) PROPOSED ACQUISITION OF 6,798,731 ALTUM SHARES REPRESENTING 47.38% EQUITY INTEREST OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF ALTUM AFTER THE PROPOSED DISPOSAL FOR A TOTAL CASH CONSIDERATION OF SGD16.896 MILLION ("PROPOSED ACQUISITION")

(III) PROPOSED PUT/CALL OPTION ARRANGEMENT TO BE IMPLEMENTED UPON THE COMPLETION OF THE PROPOSED DISPOSAL AND PROPOSED ACQUISITION COMPRISING THE FOLLOWING:

· THE PROPOSED GRANT OF A CALL OPTION BY ULTRO TECHNOLOGIES BERHAD ("ULTRO")TO ETHB, WHICH GIVES ETHB THE OPTION TO ACQUIRE ALL (BUT NOT SOME ONLY) OF THE ALTUM SHARES (IF ANY) HELD BY ULTRO; AND

· THE PROPOSED GRANT OF A PUT OPTION BY ETHB TO ULTRO, WHICH GIVES ULTRO THE OPTION TO REQUIRE ETHB TO PURCHASE ALL (BUT NOT SOME ONLY) OF THE ALTUM SHARES (IF ANY) HELD BY ULTRO
Content

Eng-Cover-Definitions-Contents-LetterToShareholders.pdf

Eng-Appendix I - V.pdf


Eng-Appendix VI.pdf

Eng-Appendix VII - IX.pdf

Eng-Appendix X - XI.pdf


Announcement Info

Company NameENG TEKNOLOGI HOLDINGS BHD  
Stock Name ENG    
Date Announced26 Mar 2003  
CategoryDocument Receipt
Reference NoIJ-030326-43621

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