UNITRAD

0.230

-0.01 (-4.2%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS UNITRADE INDUSTRIES BERHAD (“UIB” OR “THE COMPANY”) - PROPOSED ACQUISITION BY INTERGREEN METALS SDN BHD (“IMSB”), A SUBSIDIARY OF UIB, OF 51.0% EQUITY INTEREST IN KIEN SAN METAL SDN BHD (“KSMSB”) FOR A TOTAL CASH CONSIDERATION OF RM42.0 MILLION (“PROPOSED ACQUISITION”)

UNITRADE INDUSTRIES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
UNITRADE INDUSTRIES BERHAD (“UIB” OR “THE COMPANY”)
- PROPOSED ACQUISITION BY INTERGREEN METALS SDN BHD (“IMSB”), A SUBSIDIARY OF UIB, OF 51.0% EQUITY INTEREST IN KIEN SAN METAL SDN BHD (“KSMSB”) FOR A TOTAL CASH CONSIDERATION OF RM42.0 MILLION (“PROPOSED ACQUISITION”)

Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcement dated 23 January 2025.  

 

Further to Unitrade Industries Berhad’s (“UIB” or the “Company”) announcement dated 23 January 2025 and Bursa Malaysia Securities Berhad’s (“Bursa Securities”) email correspondence duly received by the Company on 24 January 2025, the Company wishes to announce the following additional information as required by Bursa Securities:-

 

  1. Further details for the source of funding, including to quantify the purchase consideration to be satisfied via internally generated funds of the UIB as well as capital injection from minority shareholders of IMSB, respectively

    The purchase consideration will be satisfied via Intergreen’s cash call to its shareholders and internally-generated funds:-

    a) To increase paid-up capital of Intergreen by RM18,000,000, from RM2,000,000 to RM20,000,000 whereby:-
         a.  51% via UIB amounting to RM9,180,000.
         b.  49% via minority shareholders of Intergreen amounting to RM8,820,000.
    b) Internally-generated funds amounting to RM24,000,000.

This announcement is dated 27 January 2025.






Announcement Info

Company Name UNITRADE INDUSTRIES BERHAD
Stock Name UNITRAD
Date Announced 27 Jan 2025
Category General Announcement for PLC
Reference Number GA1-27012025-00015