Immediate Announcement of Changes in Treasury Shares
| PAN MALAYSIA CORPORATION BERHAD |
| Date of transaction | 09 Mar 2022 |
| Currency | Malaysian Ringgit (MYR) |
| Type of changes | Transfer - Purchase Consideration |
| Total number of treasury shares changed (units) | 63,112,500 |
| Transfer price and basis for the price | The transfer price of RM0.15 per share represents a premium of 25% to the 5-day weighted average market price up to 22 September 2021 of RM0.12, being the date immediately prior to the date of the sale and purchase agreement. |
| Direct and indirect interests of the directors and major shareholders and any person connected with the directors or major shareholders in the transfer | None of the Directors and/or major shareholders of the Company and/or persons connected with such Directors and/or major shareholders have any interest, direct or indirect in the transfer. |
| Name & details of vendor | Inter Mark Resources Sdn Bhd ("Inter Mark") was incorporated in Malaysia under the then Companies Act 1965 on 26 August 1999 as a private limited company with a total issued share capital of RM39,950,000 comprising 210,530 ordinary shares and 1,100,000 preference shares.
The Directors and shareholders of Inter Mark are as follows:
Directors:
(i) Mr Ang Choon Yan @ George Ang
(ii) Madam Coreen Michele Bathman
Ordinary Shareholders:
(i) Eng Food Holdings Pte Ltd 200,000 ordinary shares (95%)
(ii) Vacas Meat Sdn Bhd 10,530 ordinary shares (5%)
Preference Shareholders:
(i) Soo Chong Kiat and Ethan Soo Yu Hui 500,000 preference shares (45.46%)
(ii) Yap Kuak Fong 300,000 preference shares (27.27%)
(iii) Chan Wah Kiang 200,000 preference shares (18.18%)
(iv) Foo Ken Nee - 100,000 preference shares (9.09%)
Inter Mark is a 95% subsidiary of Eng Food Holdings Pte Ltd, which is 80% owned by Mr Ang Choon Yan @ George Ang. |
| Total number of treasury shares held after the resale or transfer | 1,847,300 |
| Adjusted issued capital after cancellation (no. of shares) (units) | 773,357,000 |
| Remarks : |
The transfer of 63,112,500 treasury shares of the Company at a transfer price of RM0.15 was made pursuant to the sale and purchase agreement entered between the Company and Inter Mark Resources Sdn Bhd as part of the total purchase consideration of RM21,037,500 to acquire 31,620,000 ordinary shares representing 51% of the total issued share capital of A & W (Malaysia) Sdn Bhd ("Proposed A&W Acquisition"). The details of the Proposed A&W Acquisition are set out in the Company's announcements dated 23 September 2021, 27 September 2021 and 1 March 2022. |
Announcement Info
| Company Name | PAN MALAYSIA CORPORATION BERHAD |
| Stock Name | PMCORP |
| Date Announced | 09 Mar 2022 |
| Category | Immediate Announcement of Changes in Treasury Shares |
| Reference Number | SB4-04032022-00001 |