BAUTO

2.370

+0.02 (+0.9%)

OTHERS BERMAZ AUTO BERHAD - ACQUISTION OF AN ADDITIONAL 35% STAKE IN BERJAYA AUTO ALLIANCE SDN BHD

BERMAZ AUTO BERHAD

Type Announcement
Subject OTHERS
Description
BERMAZ AUTO BERHAD - ACQUISTION OF AN ADDITIONAL 35% STAKE IN BERJAYA AUTO ALLIANCE SDN BHD

The Board of Directors of Bermaz Auto Berhad (“BAuto” or “Company”) wishes to inform that the Company has acquired an additional 35% stake in Berjaya Auto Alliance Sdn Bhd (“BAASB”) from Berjaya Corporation Berhad for a cash consideration of RM4.58 million or at RM1.09 per BAASB share, which was based on the unaudited net assets value per share of BAASB as at 30 April 2021 (“Acquisition”). As a result, BAASB is now a 55% owned subsidiary of BAuto.

 

Pursuant to Chapter 10, Paragraph 10.2(g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the highest percentage ratio that is applicable to the Acquisition is 3.71%.

 

Attached is a press release on the said Acquisition.

 

This Announcement is dated 8 June 2021.




Please refer attachment below.

Attachments

Press Release.pdf
278.8 kB



Announcement Info

Company Name BERMAZ AUTO BERHAD
Stock Name BAUTO
Date Announced 08 Jun 2021
Category General Announcement for PLC
Reference Number GA1-08062021-00085