TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SMIS CORPORATION BERHAD ("SMIS" OR THE "COMPANY") - PROPOSED DISPOSAL OF 2,300,000 SHARES, REPRESENTING 46% OF THE TOTAL ISSUED SHARE CAPITAL IN SANYCO GRAND INDUSTRIES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
| SMIS CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | SMIS CORPORATION BERHAD ("SMIS" OR THE "COMPANY")
- PROPOSED DISPOSAL OF 2,300,000 SHARES, REPRESENTING 46% OF THE TOTAL ISSUED SHARE CAPITAL IN SANYCO GRAND INDUSTRIES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY |
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The Board of Directors of SMIS (“Board”) wishes to announce that the Company had on 30 September 2024 entered into a conditional Shares Sale Agreement (“SSA”) with Yamaguchi Mfg Co. Ltd (“Yamaguchi” or “Purchaser”) for the proposed disposal of 2,300,000 ordinary shares, representing 46% of the total number of issued shares in Sanyco Grand Industries Sdn. Bhd. (“Sanyco”), a wholly-owned subsidiary of the Company (“Sale Shares” or “Sanyco Shares”), for a total cash consideration of RM5,071,369.00 (“Disposal Consideration”), subject to the terms and conditions of the SSA (the “Proposed Disposal”).
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Please refer attachment below.
Announcement Info
| Company Name | SMIS CORPORATION BERHAD |
| Stock Name | SMISCOR |
| Date Announced | 30 Sep 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-23092024-00013 |