OTHERS Termination of the Sale and Purchase of Shares Agreement dated 02 December 2020. - In relation to the Proposed Disposal of 100% Equity Interest in Endaya TRC PK JV Sdn Bhd ("ETPJV") by Trans Resources Corporation Sdn Bhd, a wholly-owned subsidiary of the Company
| TRC SYNERGY BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | Termination of the Sale and Purchase of Shares Agreement dated 02 December 2020.
- In relation to the Proposed Disposal of 100% Equity Interest in Endaya TRC PK JV Sdn Bhd ("ETPJV") by Trans
Resources Corporation Sdn Bhd, a wholly-owned subsidiary of the Company |
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With reference to the announcement made on 04 December 2020, the Board of Directors of TRC Synergy Berhad ("TRCS" or "the Company") wishes to announce that its wholly-owned subsidiary, Trans Resources Corporation Sdn Bhd ("TRC") had on 19 March 2021 terminated the Sale and Purchase of Shares Agreement dated 02 December 2020 entered between TRC and Marie Joanna Buma (“the Purchaser”) ("the S&P").
The S&P was in relation to the disposal by TRC of its 100% equity interest held in ETPJV.
The S&P was terminated due to the Purchaser’s failure to make her first instalment payment amounting to RM1,244,400 before 31 December 2020 (the original first payment due date pursuant to the S&P) and the subsequent extension of two (2) months’ time until 28 February 2021 (the extended first payment due date).
The termination was made pursuant to Clause 6 of the S&P and in consequential thereto, ETPJV will remain as a subsidiary of TRC.
This announcement is dated 19 March 2021. |
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Announcement Info
| Company Name | TRC SYNERGY BERHAD |
| Stock Name | TRC |
| Date Announced | 19 Mar 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-12032021-00103 |