TECHNAX

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS TECHNA-X BERHAD (FORMERLY KNOWN AS SINO HUA-AN INTERNATIONAL BERHAD) ("TXB") - SHARE PURCHASE AGREEMENT WITH DR. NIK NAZLI BINTI NIK AHMAD, JIM IRENE, DR. ROZHAN BIN OTHMAN, ZURIAH BINTI ABU BAKAR AND AHMAD FAKHRI BIN HAMZAH FOR THE ACQUISITION OF 700,000 ORDINARY SHARES IN HUMANCAPIENT CONSULTING SDN BHD

TECHNA-X BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
TECHNA-X BERHAD (FORMERLY KNOWN AS SINO HUA-AN INTERNATIONAL BERHAD) ("TXB") 

- SHARE PURCHASE AGREEMENT WITH DR. NIK NAZLI BINTI NIK AHMAD, JIM IRENE, DR. ROZHAN BIN OTHMAN, ZURIAH BINTI ABU BAKAR AND AHMAD FAKHRI BIN HAMZAH FOR THE ACQUISITION OF 700,000 ORDINARY SHARES IN HUMANCAPIENT CONSULTING SDN BHD

Reference is made to TXB’s earlier announcements made on 23 April 2020 and 24 September 2020 in relation to the above subject matter.

 

The Board of Directors of TXB wishes to announce the termination of the acquisition of HumanCapient Consulting Sdn Bhd due to non-fulfillment of the obligations as stipulated in Clause 7.5(a)(i) and Schedule 3 of the Share Purchase Agreement dated 23 April 2020 (“SPA”) (“Termination”).  Upon the Termination, TXB will reprioritize its resources in the energy storage and digital transformation space and in companies that own patents, technologies and licenses.

 

Pursuant to the Termination, the SPA shall have no further binding force and effect on the parties and no party shall have any claim in respect of the other under the SPA. The parties have released and discharged each other, their officers, directors, past directors, shareholders, successors and assigns from all rights, demands, expenses, causes of action and claims whatsoever arising from or connected to, whether directly or indirectly, the SPA.  Accordingly, TXB does not anticipate any financial losses to be incurred from the Termination. 

 

The Termination will not have any effect on the share capital and substantial shareholders’ shareholdings and is not expected to have any material effect on the earnings per shares, net assets per share and gearing of TXB for the financial year ending 31 December 2021.

 

None of the Directors and major shareholders of TXB and/or person connected to them have any interest, direct or indirect in the Termination.

 

The Board of Directors of TXB, having considered all aspects of the Termination, is of the opinion that the execution of the Termination is in the best interests of TXB.

 

This announcement is dated 2 February 2021.






Announcement Info

Company Name TECHNA-X BERHAD
Stock Name TECHNAX
Date Announced 02 Feb 2021
Category General Announcement for PLC
Reference Number GA1-02022021-00065