JADEM

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-0.005 (-2.8%)

OTHERS ACQUISITION BY JADE MARVEL GROUP BERHAD ("JMG" OR "COMPANY") OF 2,000,000 ORDINARY SHARES IN TOTAL IPCO SDN. BHD. REPRESENTING ("SALE SHARES") 100% EQUITY INTEREST IN TOTAL IPCO SDN BHD ("TOTAL IPCO") FOR A PURCHASE CONSIDERATION OF RM2,000,000.00 ("ACQUISITION")

JADE MARVEL GROUP BERHAD

Type Announcement
Subject OTHERS
Description
ACQUISITION BY JADE MARVEL GROUP BERHAD ("JMG" OR "COMPANY") OF 2,000,000 ORDINARY SHARES IN TOTAL IPCO SDN. BHD. REPRESENTING ("SALE SHARES") 100% EQUITY INTEREST IN TOTAL IPCO SDN BHD ("TOTAL IPCO") FOR A PURCHASE CONSIDERATION OF RM2,000,000.00 ("ACQUISITION")

JADE MARVEL GROUP BERHAD (“JMG” OR “COMPANY”)

 

ACQUISITION BY JADE MARVEL GROUP BERHAD (“JMG” OR “COMPANY”) OF 2,000,000 ORDINARY SHARES IN TOTAL IPCO SDN. BHD. REPRESENTING (“SALE SHARES”) 100% EQUITY INTEREST IN TOTAL IPCO SDN BHD (“TOTAL IPCO”) FOR A PURCHASE CONSIDERATION OF RM2,000,000.00 (“ACQUISITION”)

 

  1. INTRODUCTION

 

With reference to the Company’s announcement made on 1st September, 2021 on the above Acquisition, the Board of Directors of JMG (“Board”) wishes to announce that with the completion of the Acquisition on 1st September, 2021, Total IPCO is now the Company’s wholly owned subsidiary.

 

 

2.             INFORMATION ON TOTAL IPCO

 

The following information is in addition to the information on Total IPCO as set out in the announcement on 1st September, 2021.

 

Based on the audited financial statements of Total IPCO for the financial year ended 31st July, 2021, the net assets are RM2,015,528.00 and the profits after taxation are RM16,559.00.

 

The Sale Shares issued to the Vendor(s), namely, Dato’ Sri Chong Wei Chuan, Chong Wei Liang and Dato’ Khoo Yik Chou are subscribers’ shares which were allotted and issued to the Vendor(s) on 28th August, 2020 at RM1.00 per share during the incorporation process of Total IPCO. There was no change in the shareholders of Total IPCO until the Acquisition whereby the Vendor(s) sold the Sale Shares to JMG at the same consideration as the Vendor(s)’ acquisition costs of RM1.00 per share.

 

 

This announcement is dated 2 September 2021.






Announcement Info

Company Name JADE MARVEL GROUP BERHAD
Stock Name JADEM
Date Announced 02 Sep 2021
Category General Announcement for PLC
Reference Number GA1-02092021-00037