Circular/Notice to Shareholders
| ADVANCECON HOLDINGS BERHAD |
| Subject | CIRCULAR TO SHAREHOLDERS IN RELATION TO THE I. PROPOSED ACQUISITION BY ADVANCECON OF 260,100,006 ORDINARY SHARES IN SPRING ENERGY RESOURCES BERHAD ("SERB"), REPRESENTING 51% EQUITY INTEREST FROM FOOK HUA HOLDINGS SDN BHD ("FHHSB" OR THE "VENDOR") FOR A TOTAL PURCHASE CONSIDERATION OF RM30,400,000 TO BE SATISFIED VIA A COMBINATION OF CASH PAYMENT OF RM15,220,000 AND ISSUANCE OF 33,000,000 NEW ORDINARY SHARES OF ADVANCECON ("CONSIDERATION SHARE(S)") AT THE ISSUE PRICE OF RM0.46 PER CONSIDERATION SHARE ("PROPOSED ACQUISITION"); AND II. PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF ADVANCECON AND ITS SUBSIDIARIES TO INCLUDE QUARRY OPERATION AND RELATED ACTIVITIES ("PROPOSED DIVERSIFICATION") |
Please refer attachment below.
Announcement Info
| Company Name | ADVANCECON HOLDINGS BERHAD |
| Stock Name | ADVCON |
| Date Announced | 11 Oct 2021 |
| Category | Document Submission |
| Reference Number | DCS-11102021-00003 |