GUH

0.375

+0.005 (+1.4%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS GUH HOLDINGS BERHAD ("GUH") OR ("COMPANY") PROPOSED ACQUISITION OF 5,500 ORDINARY SHARES IN STAR WHEELS ELECTRONIC SDN. BHD. (SWE), REPRESENTING 55% EQUITY INTEREST IN SWE AND PROPOSED SUBSCRIPTION OF 5,000 NEW ORDINARY SHARES IN SWE FOR CASH CONSIDERATION OF RM1,100,000 AND RM1,000,000 RESPECTIVELY (PROPOSED INVESTMENT)

GUH HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
GUH HOLDINGS BERHAD ("GUH") OR ("COMPANY")
PROPOSED ACQUISITION OF 5,500 ORDINARY SHARES IN STAR WHEELS ELECTRONIC SDN. BHD. (SWE), REPRESENTING 55% EQUITY INTEREST IN SWE AND PROPOSED SUBSCRIPTION OF 5,000 NEW ORDINARY SHARES IN SWE FOR CASH CONSIDERATION OF RM1,100,000 AND RM1,000,000 RESPECTIVELY (PROPOSED INVESTMENT)

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement in relation to the Proposed Investment.

 

 

Further to the announcement made on 2 November 2022 in relation to the Proposed Investment, the Board of Directors of GUH wishes to announce that:

 

1.     The valuation of RM2,000,000 is derived from the:

  • mutual agreement between GUH Capital and LHY on the future profits projection;
  • existing branches and dealers of SWE in Malaysia and overseas; and
  • the prospect and future growth potential of SWE.

 

2.   The valuation of SWE was based, inter alia, on guarantees that SWE would be able to achieve the guaranteed net profit after tax figures set out in the SPA (“Guaranteed NPAT”).

      The Guaranteed NPAT was derived from SWE’s Audited Accounts dated 31 December 2021 and profits projection.

 

       As such, adjustments to the Guaranteed NPAT must be made if SWE’s liabilities change after 31 December 2021. For example, if SWE incurs additional liabilities of RM100,000

      after 31 December 2021 – SWE’s net profit after tax will need to be increased by RM100,000 from the Guaranteed NPAT, in order for the valuation of SWE to remain correct.

 

This announcement is dated 3 November 2022.






Announcement Info

Company Name GUH HOLDINGS BERHAD
Stock Name GUH
Date Announced 03 Nov 2022
Category General Announcement for PLC
Reference Number GA1-03112022-00034