WEGMANS

0.210

-0.005 (-2.3%)

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 ("PROPOSED ACQUISITION").

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 ("PROPOSED ACQUISITION").

(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 24 December 2020, 27 January 2021, 5 February 2021 and 9 February 2021 in relation to the Proposed Acquisition, where applicable, unless stated otherwise or defined herein.)

 

In connection with the Proposed Acquisition, the Board wishes to announce that the Company and the Vendors had on 29 March 2021 entered into a Stakeholder Agreement with UBB Amanah Berhad (“Security Stakeholder”) to appoint the Security Stakeholder as stakeholder in respect of the Consideration Shares to be pledged as security for the Profit Guarantee (“Pledged Shares”) on the terms and conditions as stated in the Share Sale Agreement, Supplemental Share Sale Agreement and letter dated 26 March 2021 (Collectively referred to as “SSA”) (“Stakeholder Agreement”). Pursuant to the Stakeholder Agreement, the Company and the Vendors consent to the Securities Account being opened, maintained and solely operated by the Security Stakeholder and agree to deposit or cause to be deposited the Pledged Shares into the Securities Account and the Pledged Shares to be dealt with in the manner set out in the Stakeholder Agreement.

 

Please refer to the attachment for further details.

 

This announcement is dated 29 March 2021.




Please refer attachment below.



Announcement Info

Company Name WEGMANS HOLDINGS BERHAD
Stock Name WEGMANS
Date Announced 29 Mar 2021
Category General Announcement for PLC
Reference Number GA1-29032021-00069