TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITIONS BY KAB ENERGY POWER SDN BHD (KABEP), A 90% SUBSIDIARY OF KAB OF: (I) 2,000,000 ORDINARY SHARES IN KONPRO INDUSTRIES SDN BHD (KONPRO); AND (II) 600,000 ORDINARY SHARES IN MERU ONE SDN BHD (MERU), BOTH REPRESENTING 80% EACH OF THE TOTAL PAID UP SHARE CAPITAL IN KONPRO AND MERU, FROM INVEST ENERGY SDN BHD (INVEN) FOR A TOTAL CASH CONSIDERATION OF RM7,260,000.00 AND ASSUMPTION OF LIABILITIES OF RM4,240,000.00 (PROPOSED ACQUISITIONS)
| KEJURUTERAAN ASASTERA BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | PROPOSED ACQUISITIONS BY KAB ENERGY POWER SDN BHD (KABEP), A 90% SUBSIDIARY OF KAB OF: (I) 2,000,000 ORDINARY SHARES IN KONPRO INDUSTRIES SDN BHD (KONPRO); AND (II) 600,000 ORDINARY SHARES IN MERU ONE SDN BHD (MERU), BOTH REPRESENTING 80% EACH OF THE TOTAL PAID UP SHARE CAPITAL IN KONPRO AND MERU, FROM INVEST ENERGY SDN BHD (INVEN) FOR A TOTAL CASH CONSIDERATION OF RM7,260,000.00 AND ASSUMPTION OF LIABILITIES OF RM4,240,000.00 (PROPOSED ACQUISITIONS) |
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Pursuant to Rule 10.06 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“AMLR”), the Board of Directors of KAB (“Board”) wishes to announce that KABEP, a 90% subsidiary of KAB, has on 25 March 2020 entered into Heads of Agreements (“Agreement(s)”) with INVEN to acquire 2,000,000 Ordinary Shares in Konpro and 600,000 Ordinary Shares in Meru for a total cash consideration of RM7,260,000.00 and to assume liabilities totaling RM4,240,000.00 (“Purchase Consideration”) (“the Proposed Acquisitions”).
Please refer to the attachment for further details on the Proposed Acquisitions. |
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Please refer attachment below.
Announcement Info
| Company Name | KEJURUTERAAN ASASTERA BERHAD |
| Stock Name | KAB |
| Date Announced | 25 Mar 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25032020-00007 |