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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SINO HUA-AN INTERNATIONAL BERHAD ("Hua-An" or "Company") (A) DEED OF REVOCATIONS; AND (B) SALE AND PURCHASE AGREEMENT FOR THE PROPOSED ACQUISITION OF THE BUSINESS AND ASSETS INCLUDING OF INTELLECTUAL PROPERTY RIGHT OWNED BY WAVETREE PLT

SINO HUA-AN INTERNATIONAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
SINO HUA-AN INTERNATIONAL BERHAD ("Hua-An" or "Company")

(A)	DEED OF REVOCATIONS; AND 
(B)	SALE AND PURCHASE AGREEMENT 

FOR THE PROPOSED ACQUISITION OF THE BUSINESS AND ASSETS INCLUDING OF INTELLECTUAL PROPERTY RIGHT OWNED BY WAVETREE PLT

Reference is made to the Company’s announcements made on 22 November 2018, 3 April 2019 and 13 June 2019.

 

The Board of Directors of Hua-An wishes to announce that the Company had on 2 December 2019 entered into the following agreements:

 

(A) Deed of Revocations to rescind and revoke the following agreements which were executed on 3 April 2019:

 

  1. Sale and Purchase Agreement for the proposed acquisition of business and asset including of Intellectual Property Right owned by Wavetree PLT (“Assets and Intellectual Property”) for a total purchase consideration of RM6.0 million; and
     
  2. Shareholders Agreement to govern the rights, liabilities and obligations of the shareholders vis-à-vis each other in relation to the management and operation of Fancy Celebrations Sdn. Bhd.

 

(B) Sale and Purchase Agreement for the proposed acquisition of Assets and Intellectual Property for a total purchase consideration of RM36.0 million. 

 

Please refer to the attachment for details of the announcement.

 

This announcement is dated 2 December 2019.


Please refer attachment below.

Attachments

Deed of Revocation and Sale and Purchase Agreement with Wavetree PLT.pdf
227.6 kB


Announcement Info

Company Name SINO HUA-AN INTERNATIONAL BERHAD
Stock Name HUAAN
Date Announced 02 Dec 2019
Category General Announcement for PLC
Reference Number GA1-02122019-00114


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