TANCO

0.965

-0.075 (-7.2%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS TANCO HOLDINGS BERHAD ("TANCO" OR THE "COMPANY") PROPOSED ACQUISITION BY PALM SPRINGS RESORT MANAGEMENT BERHAD ("PSRMB"), A SUBSIDIARY INDIRECTLY OWNED BY TANCO OF 250,500 ORDINARY SHARES IN GPLEX PROPERTIES SDN BHD ("GPSB"), REPRESENTING 50.1% OF THE ENTIRE EQUITY INTEREST IN GPSB FROM GOOGOLPLEX HOLDINGS BERHAD ("GHB" OR "VENDOR") FOR A TOTAL PURCHASE CONSIDERATION OF RM20,000,000 TO BE FULLY SATISFIED VIA CASH ("PROPOSED ACQUISITION")

TANCO HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
TANCO HOLDINGS BERHAD ("TANCO" OR THE "COMPANY")

PROPOSED ACQUISITION BY PALM SPRINGS RESORT MANAGEMENT BERHAD ("PSRMB"), A SUBSIDIARY INDIRECTLY OWNED BY TANCO OF 250,500 ORDINARY SHARES IN GPLEX PROPERTIES SDN BHD ("GPSB"), REPRESENTING 50.1% OF THE ENTIRE EQUITY INTEREST IN GPSB FROM GOOGOLPLEX HOLDINGS BERHAD ("GHB" OR "VENDOR") FOR A TOTAL PURCHASE CONSIDERATION OF RM20,000,000 TO BE FULLY SATISFIED VIA CASH ("PROPOSED ACQUISITION")

(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 7 February 2023 in relation to the Proposed Acquisition.)

 

We refer to our announcement dated 7 February 2023 on the Proposed Acquisition in GPSB.

 

The Board of Directors of TANCO wishes to announce that TANCO todate received notification that the transfer of the Sale Shares from GHB to PSRMB has been perfected. Accordingly, the Proposed Acquisition is now deemed completed.

 

Consequently, GPSB is now a 50.1%-owned sub-subsidiary of TANCO and the associated company of GPSB is also an associated company of TANCO.

 

This announcement is dated 6 March 2023.






Announcement Info

Company Name TANCO HOLDINGS BERHAD
Stock Name TANCO
Date Announced 06 Mar 2023
Category General Announcement for PLC
Reference Number GA1-03032023-00013