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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Reference is made to the announcements dated 25 March 2020, 24 April 2020, 23 June 2020 and 26 August 2020. Unless otherwise stated, defined terms used in this announcement shall have the same meanings as those used in the earlier announcements.
The Board of Directors of KAB wishes to announce that KABEP and INVEN had on 22 September 2020 mutually agreed to further extend the period until 22 October 2020 to enable both parties to enter into formal agreements for the Proposed Acquisitions.
This announcement is dated 25 September 2020. |
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Announcement Info
| Company Name | KEJURUTERAAN ASASTERA BERHAD |
| Stock Name | KAB |
| Date Announced | 25 Sep 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25092020-00008 |