TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS FREIGHT MANAGEMENT HOLDINGS BHD. ("FREIGHT" OR "THE COMPANY") ACQUISITION OF ALL OF THE ISSUED AND OUTSTANDING SHARES OF CAPITAL STOCK OF INTER-ORIENT SERVICES, INTER-ORIENT CORPORATION AND NOBLE SHIPPING CORPORATION BY FM GLOBAL LOGISTICS VENTURES SDN. BHD. ("FMGLV"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
| FREIGHT MANAGEMENT HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | FREIGHT MANAGEMENT HOLDINGS BHD. ("FREIGHT" OR "THE COMPANY")
ACQUISITION OF ALL OF THE ISSUED AND OUTSTANDING SHARES OF CAPITAL STOCK OF INTER-ORIENT SERVICES, INTER-ORIENT CORPORATION AND NOBLE SHIPPING CORPORATION BY FM GLOBAL LOGISTICS VENTURES SDN. BHD. ("FMGLV"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY |
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Pursuant to Paragraph 10.05 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company wishes to announce that FMGLV, an indirect wholly-owned subsidiary of the Company has on 4 October 2021 entered into a Stock Purchase Agreement with several independent third parties to acquire the entire issued and outstanding shares of capital stock of Inter-Orient Services, Inter-Orient Corporation and Noble Shipping Corporation, for a total cash consideration of USD2,200,000 (equivalent to approximately RM9,196,000 based on the exchange rate of USD1:RM4.18 as at 4 October 2021), subject to the terms and conditions as stipulated in the SPA (the “Acquisition”). Details of the Acquisition are set out in the attachment below. This announcement is dated 4 October 2021. |
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Please refer attachment below.
Announcement Info
| Company Name | FREIGHT MANAGEMENT HOLDINGS BERHAD |
| Stock Name | FREIGHT |
| Date Announced | 04 Oct 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-30082021-00014 |