TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SUNZEN BIOTECH BERHAD ("SUNZEN" OR THE "COMPANY") ACQUISITION BY SUNZEN OF 2,000,000 ORDINARY SHARES IN FINSOURCE SOLUTION SDN BHD (FORMERLY KNOWN AS SAVE SOLUTION SDN BHD) ("FSSB"), REPRESENTING 100% OF THE EQUITY INTEREST IN FSSB, FROM TEO YEK MING, CHING CHEE PUN, LEE CHING YONG AND LOW CHEE YEAP (COLLECTIVELY, THE "VENDORS"), FOR A PURCHASE CONSIDERATION OF RM6,800,000 TO BE SATISFIED BY THE ISSUANCE AND ALLOTMENT OF 41,212,121 NEW ORDINARY SHARES IN SUNZEN ("ACQUISITION")
| SUNZEN BIOTECH BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | SUNZEN BIOTECH BERHAD ("SUNZEN" OR THE "COMPANY")
ACQUISITION BY SUNZEN OF 2,000,000 ORDINARY SHARES IN FINSOURCE SOLUTION SDN BHD (FORMERLY KNOWN AS SAVE SOLUTION SDN BHD) ("FSSB"), REPRESENTING 100% OF THE EQUITY INTEREST IN FSSB, FROM TEO YEK MING, CHING CHEE PUN, LEE CHING YONG AND LOW CHEE YEAP (COLLECTIVELY, THE "VENDORS"), FOR A PURCHASE CONSIDERATION OF RM6,800,000 TO BE SATISFIED BY THE ISSUANCE AND ALLOTMENT OF 41,212,121 NEW ORDINARY SHARES IN SUNZEN ("ACQUISITION") |
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Reference is made to the announcements dated 12 January 2021, 1 March 2021, 5 April 2021, 4 May 2021, 17 May 2021 and 31 May 2021.
On behalf of the Board of Directors of SUNZEN, M&A Securities Sdn Bhd wishes to inform that 41,212,121 new ordinary shares in SUNZEN ("New SUNZEN Shares") have been issued to the Vendors as consideration pursuant to the Acquisition and the New SUNZEN Shares were listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 1 June 2021.
In addition, SUNZEN and the Vendors have completed their obligations under the share sale agreement dated 12 January 2021, which marks the completion of the Acquisition.
This announcement is dated 1 June 2021. |
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Announcement Info
| Company Name | SUNZEN BIOTECH BERHAD |
| Stock Name | SUNZEN |
| Date Announced | 01 Jun 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-01062021-00115 |