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NEXGRAM

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS NEXGRAM HOLDINGS BERHAD ("NEXGRAM" OR "COMPANY") ACQUISITION OF 65% OF EQUITY IN ARITA HOLDINGS SDN BHD ("AHSB") BY NMED INDUSTRIES SDN BHD, A SUB-SUBSIDIARY OF THE COMPANY ("PROPOSED ACQUISITION")

NEXGRAM HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
NEXGRAM HOLDINGS BERHAD ("NEXGRAM" OR "COMPANY")
ACQUISITION OF 65% OF EQUITY IN ARITA HOLDINGS SDN BHD ("AHSB") BY NMED INDUSTRIES SDN BHD, A SUB-SUBSIDIARY OF THE COMPANY ("PROPOSED ACQUISITION")

Pursuant to Rule 10.05 of the Bursa Malaysia Securities Berhad ACE Market Listing  Requirements, the Board of Directors of Nexgram wishes to announce that NMED Industries Sdn Bhd. (“NMEDI”), a wholly-owned sub-subsidiary of the Company has on 13 October 2020 entered into a Share Sales Agreement (“SSA”) with the following Parties, to obtain a combined total of 65% equity interest in Arita Holdings Sdn Bhd (“AHSB”) (Company No. 210905-P) for a total consideration of Ringgit Malaysia Nineteen Million and Five Hundred Thousand (RM19,500,000.00) only (“the Acquisition”) via the issuance of Redeemable Convertible Preference Shares (“RCPS”) in NMEDI

 

Please refer to the attachment for details of the announcement.

 

This announcement is dated 14 October 2020.

 




Please refer attachment below.



Announcement Info

Company Name NEXGRAM HOLDINGS BERHAD
Stock Name NEXGRAM
Date Announced 14 Oct 2020
Category General Announcement for PLC
Reference Number GA1-14102020-00080