WEGMANS

0.205

-0.005 (-2.4%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY WEGMANS HOLDINGS BERHAD ("WEGMANS" OR "THE COMPANY") OF 900,000 ORDINARY SHARES IN WISON SCREW INDUSTRIES SDN. BHD. ("WSI"), REPRESENTING 90% OF THE TOTAL NUMBER OF SHARES IN WSI, FROM BS VALUE SDN. BHD. ("BSV") AND KEK WEE BENG FOR A TOTAL PURCHASE CONSIDERATION OF RM16,200,000.00 TO BE FULLY SATISFIED BY THE ISSUE AND ALLOTMENT OF 50,030,800 NEW ORDINARY SHARES IN WEGMANS ("WEGMANS SHARE") AT AN ISSUE PRICE OF RM0.3238 PER WEGMANS SHARE.

WEGMANS HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION BY WEGMANS HOLDINGS BERHAD ("WEGMANS" OR "THE COMPANY") OF 900,000 ORDINARY SHARES IN WISON SCREW INDUSTRIES SDN. BHD. ("WSI"), REPRESENTING 90% OF THE TOTAL NUMBER OF SHARES IN WSI, FROM BS VALUE SDN. BHD. ("BSV") AND KEK WEE BENG FOR A TOTAL PURCHASE CONSIDERATION OF RM16,200,000.00 TO BE FULLY SATISFIED BY THE ISSUE AND ALLOTMENT OF 50,030,800 NEW ORDINARY SHARES IN WEGMANS ("WEGMANS SHARE") AT AN ISSUE PRICE OF RM0.3238 PER WEGMANS SHARE.

Pursuant to Paragraph 10.05 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Wegmans wishes to announce that Wegmans has on 24 December 2020 entered into a conditional share sale agreement with BSV and Kek Wee Beng (“the Vendors”) to acquire 900,000 ordinary shares of WSI, representing 90% of the total number of shares in WSI for a total purchase consideration of RM16,200,000.00, subject to adjustments, to be fully satisfied by the issue and allotment by Wegmans of new Wegmans Shares at an issue price of RM0.3238 per Wegmans Share to the Vendors (“the Proposed Acquisition”). Upon completion of the Proposed Acquisition, WSI will become a 90%-owned subsidiary of Wegmans.

 

Details of the Proposed Acquisition is set out in the attachment enclosed.

 

This announcement is dated 24 December 2020.




Please refer attachment below.



Announcement Info

Company Name WEGMANS HOLDINGS BERHAD
Stock Name WEGMANS
Date Announced 24 Dec 2020
Category General Announcement for PLC
Reference Number GA1-16122020-00090