TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS DESTINI BERHAD ("DESTINI" OR "COMPANY") PROPOSED DISPOSAL BY DESTINI AVIATION SDN. BHD. ("DASB"), A WHOLLY-OWNED SUBSIDIARY OF DESTINI, OF 450,000 ORDINARY SHARES IN DESTINI AVIA TECHNIQUE SDN BHD ("DAT"), REPRESENTING 45% EQUITY INTEREST IN DAT TO AVIA TECHNIQUE LIMITED ("AVIA TECHNIQUE") FOR A CASH CONSIDERATION OF RM2,975,000.00 ("PROPOSED DISPOSAL")
| DESTINI BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | DESTINI BERHAD ("DESTINI" OR "COMPANY")
PROPOSED DISPOSAL BY DESTINI AVIATION SDN. BHD. ("DASB"), A WHOLLY-OWNED SUBSIDIARY OF DESTINI, OF 450,000 ORDINARY SHARES IN DESTINI AVIA TECHNIQUE SDN BHD ("DAT"), REPRESENTING 45% EQUITY INTEREST IN DAT TO AVIA TECHNIQUE LIMITED ("AVIA TECHNIQUE") FOR A CASH CONSIDERATION OF RM2,975,000.00 ("PROPOSED DISPOSAL") |
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The Board of Directors of Destini (“Board”) is pleased to announce that Destini Aviation Sdn Bhd (“DASB”), a wholly-owned subsidiary of Destini, had on 1 November 2022 entered into a share sale agreement (“SSA”) with Avia Technique Limited (“Avia Technique”) for the disposal of 45% equity interest (“Sale Shares”) in Destini Avia Technique Sdn Bhd (“DAT”), a 50%-owned associate company of DASB, for a cash consideration of RM2,975,000 (“Disposal Consideration”) (“Proposed Disposal”). The details of the above matter are set out in the attachment herein. This announcement is dated 1 November 2022. |
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Please refer attachment below.
Announcement Info
| Company Name | DESTINI BERHAD |
| Stock Name | DESTINI |
| Date Announced | 01 Nov 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-01112022-00080 |