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VSTECS

1.020

(%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS VSTECS BERHAD (FORMERLY KNOWN AS ECS ICT BERHAD) ('THE COMPANY' OR 'VSTECS') - PROPOSED INVESTMENT IN I.S.A. TECHNOLOGIES SDN. BHD. AND ITS WHOLLY-OWNED SUBSIDIARY COMPANY, I.S.A. INNOVATION SDN. BHD. (COLLECTIVELY REFERRED TO AS THE ISA GROUP) BY THE COMPANY

VSTECS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
VSTECS BERHAD (FORMERLY KNOWN AS ECS ICT BERHAD) ('THE COMPANY' OR 'VSTECS') - PROPOSED INVESTMENT IN I.S.A. TECHNOLOGIES SDN. BHD. AND ITS WHOLLY-OWNED SUBSIDIARY COMPANY, I.S.A. INNOVATION SDN. BHD. (COLLECTIVELY REFERRED TO AS THE ISA GROUP) BY THE COMPANY

Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the announcements announced by the Company on 21 November 2018, 18 February 2019 and 18 April 2019.

The Board of Directors of VSTECS wishes to inform that the Company has on to-date received notification from I.S.A. Technologies Sdn. Bhd. ('ISAT') that the latter has received the Stamp Certificates dated 10 May 2019 from the Stamping Office in respect of the Forms of Transfer of Securities. In view thereof, the Proposed Acquisition has been deemed to be completed on 10 May 2019 whereupon ISAT has became a 30%-owned associate company of VSTECS. The remaining 70% equity interest in ISAT is jointly held by Mr. Lim Fun Jin, Ms. Alice Yuen Mei Foong, Mr. Yong Keong Tuck, Mr. Tan Wai Ho and Mr. Alvin Yuen Tai Keng, respectively.

Further developments of the above matter will be announced to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 14 May 2019.






Announcement Info

Company Name VSTECS BERHAD
Stock Name VSTECS
Date Announced 14 May 2019
Category General Announcement for PLC
Reference Number GA1-14052019-00020