CEKD

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS CEKD BERHAD (CEKD OR THE COMPANY) - PROPOSED ACQUISITION OF 410,003 ORDINARY SHARES BY CEKD, REPRESENTING 82% OF THE EQUITY INTEREST IN WORLDWIDE DIE CUTTING MOULD SDN. BHD.

Amended Announcements
Please refer to the earlier announcement reference number: GA1-27062022-00027

CEKD BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
CEKD BERHAD (CEKD OR THE COMPANY)
- PROPOSED ACQUISITION OF 410,003 ORDINARY SHARES BY CEKD, REPRESENTING 82% OF THE EQUITY INTEREST IN WORLDWIDE DIE CUTTING MOULD SDN. BHD.

(All definitions used herein shall have the same meaning as defined in the announcement dated 5 July 2022, unless otherwise stated.)

 

Further to our announcement dated 5 July 2022, the Board of Directors of CEKD Berhad would like to provide further clarification by way of an amended announcement of which the full details are as per attachment enclosed (“Amended Announcement”).

 

The following amendments have been made in the Amended Announcement:-

 

No.  Reference Remarks
1. 

Item 2.3 - Basis and Justification for Purchase Consideration of the Proposed Acquisition of the Announcement

Deleted item 2.3(b) on the information for the audited net assets of Worldwide.

2.

Item 9 - Liabilities to be assumed and estimated financial commitments of the Announcement

We have made amendment as shown in bold:-

 

CEKD will not assume any additional liabilities (including contingent liabilities and guarantees (if any) under the Proposed Acquisition. The existing liabilities of Worldwide will be settled by Worldwide in its’ ordinary course of business. The Board does not foresee any material financial commitments required following the completion of the Proposed Acquisition.

3.

Item 10 - approval/consent required of the Announcement

We have made amendment as shown in bold:-

 

The highest percentage ratio applicable to the Proposed Acquisition pursuant to Rule 10.02(g) of the ACE Market Listing Requirement of Bursa Malaysia Securities Berhad is 17.86 %, which indicates that no approval is required from the Company’s shareholders or any other relevant government authorities for the Proposed Acquisition.

4. Item 1- Purchase Price of the Appendix I on the Salient Terms of the SPA 

1. We have made amendments as shown in bold :-

 

The purchase price payable by the Company for the purchase of 410,003 Ordinary Shares in Worldwide (“Sale Shares”) of RM6,230,000.00 shall be paid in the following manners:

  1. Subject to the Vendor first depositing documents as set out in the SPA (referred in Section 3 below), the payment of the refundable deposit sum of RM623,000.00 (“Deposit”) upon the execution of the SPA simultaneously.
  2. The payment of balance purchase price of RM5,607,000.00 (“Balance Purchase Price”) within thirty (30) days from the unconditional date of the SPA.

2. Added Section 3, Sections 4 to 5 be re-numbererd as Sections 5 to 6.

 

 

This announcement is dated 12 July 2022.




Please refer attachment below.



Announcement Info

Company Name CEKD BERHAD
Stock Name CEKD
Date Announced 12 Jul 2022
Category General Announcement for PLC
Reference Number GA1-08072022-00048