TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SUNZEN BIOTECH BERHAD ("SUNZEN") ACQUISITIONS OF THE REMAINING 30% EQUITY INTEREST IN: (I) ECOLITE BIOTECH MANUFACTURING SDN BHD ("ECOLITE"), A 70%-OWNED SUBSIDIARY OF SUNZEN FOR A PURCHASE CONSIDERATION OF RM15.00 MILLION; AND (II) YANMING RESOURCES SDN BHD, A 70%-OWNED SUBSIDIARY OF ECOLITE, FOR A PURCHASE CONSIDERATION OF RM4.50 MILLION, TO BE SATISFIED ENTIRELY BY THE ISSUANCE OF 66,101,694 NEW SUNZEN SHARES (COLLECTIVELY, THE "ACQUISITIONS")
| SUNZEN BIOTECH BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | SUNZEN BIOTECH BERHAD ("SUNZEN")
ACQUISITIONS OF THE REMAINING 30% EQUITY INTEREST IN:
(I) ECOLITE BIOTECH MANUFACTURING SDN BHD ("ECOLITE"), A 70%-OWNED SUBSIDIARY OF SUNZEN FOR A PURCHASE CONSIDERATION OF RM15.00 MILLION; AND
(II) YANMING RESOURCES SDN BHD, A 70%-OWNED SUBSIDIARY OF ECOLITE, FOR A PURCHASE CONSIDERATION OF RM4.50 MILLION,
TO BE SATISFIED ENTIRELY BY THE ISSUANCE OF 66,101,694 NEW SUNZEN SHARES
(COLLECTIVELY, THE "ACQUISITIONS") |
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Reference is made to the announcements dated 20 December 2023, 14 June 2024, 28 June 2024, 29 August 2024 and 5 September 2024 and 20 September 2024 ("Announcements"). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcements.
On behalf of the Board of Directors of SUNZEN, M&A Securities Sdn Bhd is pleased to announce that all the conditions precedent as set out in SSA 1 and SSA 2 in respect of the Acquisitions have been fulfilled. Accordingly, SSA 1 and SSA 2 have become unconditional as at 30 September 2024.
This announcement is dated 30 September 2024. |
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Announcement Info
| Company Name | SUNZEN BIOTECH BERHAD |
| Stock Name | SUNZEN |
| Date Announced | 30 Sep 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-30092024-00006 |