TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS AWC BERHAD ("AWC" OR THE "COMPANY") ACQUISITION BY AWC OF 60% EQUITY INTEREST IN TRACKWORK & SUPPLIES SDN BHD FOR A TOTAL PURCHASE CONSIDERATION OF RM43,500,000 ("ACQUISITION")
| AWC BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | AWC BERHAD ("AWC" OR THE "COMPANY")
ACQUISITION BY AWC OF 60% EQUITY INTEREST IN TRACKWORK & SUPPLIES SDN BHD FOR A TOTAL PURCHASE CONSIDERATION OF RM43,500,000 ("ACQUISITION") |
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We refer to the earlier announcements in relation to the Acquisition. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.
To recapitulate, AWC had on 18 May 2020 announced the following:
(i) AWC will allot and issue the Tranche 4 Consideration Shares with an aggregate value of RM5,968,736 in view of the shortfall of RM31,264 in the Cumulative Profit Guarantee. Based on the five (5)-day VWAP of AWC Shares up to and including 17 March 2020, the issue price of the Tranche 4 Consideration Shares has been fixed at RM0.2948 and accordingly, 20,246,729 Tranche 4 Consideration Shares will be allotted and issued to the Sellers; and
(ii) AWC and the Sellers had mutually agreed to defer the date for the allotment and issuance of the Tranche 4 Consideration Shares to a date which shall not be later than 31 December 2020.
On behalf of the Board, RHB Investment Bank wishes to announce that 20,246,729 Tranche 4 Consideration Shares, have been allotted and issued to the Sellers on 1 December 2020. This represents the final tranche of Consideration Shares to be issued to the Sellers.
This Announcement is dated 1 December 2020. |
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Announcement Info
| Company Name | AWC BERHAD |
| Stock Name | AWC |
| Date Announced | 01 Dec 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-01122020-00074 |