TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KENANGA INVESTMENT BANK BERHAD ("KIBB") - PROPOSED DISPOSAL BY KENANGA INVESTORS BERHAD, A WHOLLY-OWNED SUBSIDIARY OF KIBB, OF THE ENTIRE ISSUED SHARE CAPITAL OF LIBRA INVEST BERHAD TO ERICSENZ PARTNERS SDN BHD ("PROPOSED DISPOSAL")
| KENANGA INVESTMENT BANK BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | KENANGA INVESTMENT BANK BERHAD ("KIBB")
- PROPOSED DISPOSAL BY KENANGA INVESTORS BERHAD, A WHOLLY-OWNED SUBSIDIARY OF KIBB, OF THE ENTIRE ISSUED SHARE CAPITAL OF LIBRA INVEST BERHAD TO ERICSENZ PARTNERS SDN BHD ("PROPOSED DISPOSAL") |
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Further to the announcement dated 1 April 2020, 1 July 2020 and 3 August 2020 in relation to the Proposed Disposal, the Board of Directors of KIBB wishes to announce that Kenanga Investors Berhad (“KIB”) and Ericsenz Partners Sdn Bhd (“Ericsenz Partners”) have mutually agreed to extend the period required for both parties to fulfil the conditions precedent stipulated in the conditional Share Purchase Agreement entered into between KIB and Ericsenz Partners on 1 April 2020 (“SPA”) for a further period of three (3) months commencing from 1 October 2020 to 31 December 2020.
Barring any unforeseen circumstances and subject to the fulfilment of all conditions as set out in the SPA and the required approvals being obtained, the Proposed Disposal is expected to be completed by the fourth (4th) quarter of 2020.
This announcement is dated 29 September 2020.
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Announcement Info
| Company Name | KENANGA INVESTMENT BANK BERHAD |
| Stock Name | KENANGA |
| Date Announced | 29 Sep 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28092020-00035 |