NOTION

0.445

-0.02 (-4.3%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS Notion VTec Berhad ("NVB" or "the Company") - Capitalisation of the Company's Investment in Blinkware Technology Sdn Bhd into Equity

NOTION VTEC BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
Notion VTec Berhad ("NVB" or "the Company") - Capitalisation of the Company's Investment in Blinkware Technology Sdn Bhd into Equity

“Unless otherwise stated, the terms used in this announcement shall carry the same meanings as defined in the Company's announcement dated 15 September 2020.”

 

Reference is made to the Company’s announcement on 15 September 2020 pertaining to the Investment Agreement between the Company and Blinkware Technology Sdn Bhd (“Blinkware”). 

 

The Board of Directors of NVB wishes to announce that the Company has capitalised its investment of RM1,000,000 to 15,195 ordinary shares in Blinkware fully paid, representing 3.99% of the issued and paid up share capital of Blinkware (hereinafter referred to as “Capitalisation”).

 

The Capitalisation is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the Company for the financial year ending 30 September 2021.

 

This move is advantageous to Notion’s interest as Blinkware is in the process of applying to be listed in Australian Stock Exchange as a technology stock and is expected to be materialised before end 2021.

 

Save as disclosed below, none of the Directors, major shareholders of NVB and/or persons connected to them has any interest, direct or indirect, to the Capitalisation:

 

(i) Mr Thoo Chow Fah, the Executive Chairman and shareholder of NVB, is also a director and major shareholder of Blinkware; and

(ii) Ms Anita Chew Cheng Im, the Independent Non-Executive Director of the Company is also a shareholder of Blinkware (of less than 1% in Blinkware)

 

This announcement is dated 24 August 2021.






Announcement Info

Company Name NOTION VTEC BERHAD
Stock Name NOTION
Date Announced 24 Aug 2021
Category General Announcement for PLC
Reference Number GA1-27042021-00029