TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS LEE SWEE KIAT GROUP BERHAD (607583-T) ('LEESK' or 'THE COMPANY') ACQUISITION OF THE GOODWILL AND ASSETS CONCERNING FURNITURE RETAIL SHOWROOM BUSINESS FROM THE MATTRESS HOUSE SDN BHD (TMH) AND AMOS ITALSOFA HOUSE SDN BHD (AIH) BY LSK ITALHOUSE SDN BHD (LSKIH), AN INDIRECT SUBSIDIARY OF LEE SWEE KIAT GROUP BERHAD. (HEREIN REFERRED TO AS 'ACQUISITIONS')
| LEE SWEE KIAT GROUP BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | LEE SWEE KIAT GROUP BERHAD (607583-T) ('LEESK' or 'THE COMPANY')
ACQUISITION OF THE GOODWILL AND ASSETS CONCERNING FURNITURE RETAIL SHOWROOM BUSINESS FROM THE MATTRESS HOUSE SDN BHD (TMH) AND AMOS ITALSOFA HOUSE SDN BHD (AIH) BY LSK ITALHOUSE SDN BHD (LSKIH), AN INDIRECT SUBSIDIARY OF LEE SWEE KIAT GROUP BERHAD.
(HEREIN REFERRED TO AS 'ACQUISITIONS') |
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Pursuant to Paragraph 10.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“LR”), the Board of Directors of LEESK (“the Board”) wishes to announce that its wholly owned subsidiary, Lee Swee Kiat Holdings Sdn Bhd (“LSKH”) and its indirect subsidiary, LSKIH (referred to as “the Buyer”), have on 27 June 2019 entered into an Asset Purchase Agreement (“Agreement”) with TMH, AIH (collectively “the Sellers”), Yeow Kian Ting (NRIC No. 850502-10-5461) (“YKT”), the controlling shareholder of the Sellers, for the purpose of jointly (in the proportion described in item (v) below) acquire the Goodwill, and Assets concerning the Furniture Retail Showroom Business (as defined below) free from all encumbrances from the Sellers for a cash consideration of RM6,950,000 (“Purchase Price”).
Please refer to the attachment for details of the announcement. |
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Please refer attachment below.
Announcement Info
| Company Name | LEE SWEE KIAT GROUP BERHAD |
| Stock Name | LEESK |
| Date Announced | 27 Jun 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27062019-00123 |