COMPLET

3.800

-0.15 (-3.8%)

MULTIPLE PROPOSALS COMPLETE LOGISTIC SERVICES BERHAD ("CLSB" OR "COMPANY") (I) PROPOSED DIVERSIFICATION; (II) PROPOSED CHANGE OF NAME; AND (III) PROPOSED DISPOSAL (COLLECTIVELY, THE "PROPOSALS")

COMPLETE LOGISTIC SERVICES BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
COMPLETE LOGISTIC SERVICES BERHAD ("CLSB" OR "COMPANY")

(I) PROPOSED DIVERSIFICATION;
(II) PROPOSED CHANGE OF NAME; AND
(III) PROPOSED DISPOSAL

(COLLECTIVELY, THE "PROPOSALS")

On behalf of the Board of Directors of CLSB (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company:

 

  1. proposes to diversify its existing business into information communication and technology (“ICT”) solutions and services, which will include but not limited to development, Internet of Things, support and maintenance services for ICT infrastructure and software, and other related ICT business activities (“Technology Businesses”) (“Proposed Diversification”);
  2. proposes to change its name from “Complete Logistic Services Berhad” to “Hextar Technologies Solutions Berhad” (“Proposed Change of Name”); and
  3. had on 14 March 2022 entered into a share sale agreement (“SSA”) with Dato’ Ong Choo Meng (“Dato’ Ong” or “Acquirer”) for the proposed disposal of:
    • 36,000,000 ordinary shares in Classic Scenic Berhad (“CSCENIC”) (“CSCENIC Share(s)”) (“Disposal Share(s)”), representing approximately 14.94% equity interest in CSCENIC; and
    • 18,000,000 warrants in CSCENIC (“CSCENIC Warrant(s)”) (“Disposal Warrant(s)”);

(collectively, “CSCENIC Securities” or “Disposal Securities”),

 

held by CLSB to Dato’ Ong, for a total cash consideration of RM32,040,000 (based on RM0.76 per Disposal Share and RM0.26 per Disposal Warrant) (“Disposal Consideration”) (“Proposed Disposal”).

 

Further details of the Proposals are set out in the attachment.

 

This announcement is dated 14 March 2022.




Please refer attachment below.



Announcement Info

Company Name COMPLETE LOGISTIC SERVICES BERHAD
Stock Name COMPLET
Date Announced 14 Mar 2022
Category General Announcement for PLC
Reference Number GA1-14032022-00023