TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WAH SEONG CORPORATION BERHAD ("WSC" OR "COMPANY") - DISPOSAL OF 70% ORDINARY SHAREHOLDINGS IN SPIROLITE (M) SENDIRIAN BERHAD TO LESSO MALAYSIA HOLDINGS SDN. BHD. BY SYN TAI HUNG TRADING SDN. BHD., AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
| WAH SEONG CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | WAH SEONG CORPORATION BERHAD ("WSC" OR "COMPANY")
- DISPOSAL OF 70% ORDINARY SHAREHOLDINGS IN SPIROLITE (M) SENDIRIAN BERHAD TO LESSO MALAYSIA HOLDINGS SDN. BHD. BY SYN TAI HUNG TRADING SDN. BHD., AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY |
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Further to the Company’s announcements dated 13 August 2020, 17 August 2020, 12 October 2020 and 19 October 2020 respectively, the Board of Directors of WSC (“Board”) wishes to announce that the Balance Sum of the Sale Consideration in respect of the disposal of 3,622,990 ordinary shares, representing 70% of the ordinary shareholdings in SPRL has been received on 18 November 2020 and hence the Completion of the SPA has been achieved in accordance to the terms of the SPA.
As a result of the Completion, SPRL shall become a 70% owned subsidiary of LMHSB and a 30% owned associate company of STHT and shall cease to be an indirect wholly-owned subsidiary of WSC, but shall remain as an indirect associate company of WSC.
(For consistency, the abbreviations used throughout this announcement shall have the same meaning as defined in the announcements dated 13 August 2020, 17 August 2020, 12 October 2020 and 19 October 2020.)
This announcement is dated 18 November 2020. |
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Announcement Info
| Company Name | WAH SEONG CORPORATION BERHAD |
| Stock Name | WASEONG |
| Date Announced | 18 Nov 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-18112020-00054 |