OTHERS KEY ASIC BERHAD ("KAB" OR THE "COMPANY") - LETTER OF INTENT TO ACQUIRE WAFER FAB IN THE US ("LOI")
| KEY ASIC BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | KEY ASIC BERHAD ("KAB" OR THE "COMPANY")
- LETTER OF INTENT TO ACQUIRE WAFER FAB IN THE US ("LOI") |
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Unless otherwise stated, all defined terms used in this announcement shall have the same meanings as those used in the announcements made by the Company in relation to the LOI on 30 November 2021, 6 December 2021, 2 March 2022, 31 May 2022, 30 August 2022 and 30 November 2022.
The Board of Directors of the Company wishes to announce that the Company has decided not to proceed further with the proposed acquisition of the targeted US foundry due to the foundry's inability to provide sufficient information for the Company to complete the due diligence review on the said foundry. In connection thereto, the LOI shall be terminated.
There will be no material effect on the earnings per share, net assets per share and gearing of the Company for the financial year ending 31 May 2023.
This announcement is dated 19 January 2023. |
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Announcement Info
| Company Name | KEY ASIC BERHAD |
| Stock Name | KEYASIC |
| Date Announced | 19 Jan 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-19012023-00034 |