GCB

2.520

+0.02 (+0.8%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS GUAN CHONG BERHAD ("GCB" OR "THE COMPANY") PROPOSED ACQUISITION BY GCB COCOA SINGAPORE PTE LTD, A SUB-SUBSIDIARY OF GCB OF 25,000 REGISTERED SHARE CAPITAL WITH A SINGLE NOMINAL VALUE OF EUR1 AND A TOTAL NOMINAL VALUE OF EUR 25,000 IN SCHOKINAG HOLDING GMBH (SHG), REPRESENTING 100% OF THE TOTAL REGISTERED SHARE CAPITAL IN SHG, FROM SCHOKINAG HOLDING B.V FOR A TOTAL PURCHASE CONSIDERATION OF EUR 29,930,048 (EQUIVALENT TO APPROXIMATELY RM 137,842,836)

GUAN CHONG BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
GUAN CHONG BERHAD ("GCB" OR "THE COMPANY") 
PROPOSED ACQUISITION BY GCB COCOA SINGAPORE PTE LTD, A SUB-SUBSIDIARY OF GCB OF 25,000 REGISTERED SHARE CAPITAL WITH A SINGLE NOMINAL VALUE OF EUR1 AND A TOTAL NOMINAL VALUE OF EUR 25,000 IN SCHOKINAG HOLDING GMBH (SHG), REPRESENTING 100% OF THE TOTAL REGISTERED SHARE CAPITAL IN SHG, FROM SCHOKINAG HOLDING B.V FOR A TOTAL PURCHASE CONSIDERATION OF EUR 29,930,048 (EQUIVALENT TO APPROXIMATELY RM 137,842,836)

Pursuant to Rule 10.05 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”), the Board of Directors of GCB (“Board”) wishes to announce that GCB Cocoa Singapore Pte Ltd (“GCBCS”), a sub-subsidiary of GCB has on 19 December 2019 entered into Sale and Purchase Agreement (“SPA”) with Schokinag Holding B.V. incorporated under the laws of Netherlands and having its address at Driebergseweg 17, 3708 JA Zeist, The Netherlands (“the Vendor”) to acquire 25,000 registered share capital with a single nominal value of EUR1 and a total nominal value of EUR 25,000 in SHG, representing 100% of the total registered share capital in SHG, for a total purchase consideration of EUR 29,930,048 (equivalent to approximately RM 137,842,836*) (“Purchase Price”) (“the Proposed Acquisition”).

 

GCBCS and the Vendor are collectively referred to as the “Parties”.

 

Please refer to the attached file for full details of the Proposed Acquisition.


This announcement is dated 19 December 2019.




Please refer attachment below.



Announcement Info

Company Name GUAN CHONG BERHAD
Stock Name GCB
Date Announced 19 Dec 2019
Category General Announcement for PLC
Reference Number GA1-19122019-00029