TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS MARINE & GENERAL BERHAD ("M&G" OR "THE COMPANY") - ACQUISITION OF THE REMAINING 30% EQUITY INTEREST IN TKH MARINE (L) LTD, CURRENTLY A 70%-OWNED SUBSIDIARY OF THE COMPANY
| MARINE & GENERAL BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | MARINE & GENERAL BERHAD ("M&G" OR "THE COMPANY")
- ACQUISITION OF THE REMAINING 30% EQUITY INTEREST IN TKH MARINE (L) LTD, CURRENTLY A 70%-OWNED SUBSIDIARY OF THE COMPANY |
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The Board of Directors of M&G (“Board”) wishes to announce that M&G Tankers Sdn Bhd (“M>”), had, on 17 July 2020, entered into a sale and purchase agreement (“SPA”) with Teng Keng Han (“Teng”) for the acquisition of the remaining 30% equity interest in TKH Marine (L) Ltd (“TKH Marine”) (“Acquisition”). M> is a wholly-owned subsidiary of M&G Marine Logistics Holdings Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company.
Further details of the Acquisition are set out in the attachment.
This announcement is dated 17 July 2020. |
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Please refer attachment below.
Announcement Info
| Company Name | MARINE & GENERAL BERHAD |
| Stock Name | M&G |
| Date Announced | 17 Jul 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-17072020-00052 |