DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition by Hua-An of 10,000 ordinary shares in HK Aerospace, representing 50% of the total issued and paid up share capital in HK Aerospace from the Vendors for the Purchase Consideration in accordance with the terms and conditions of the New SPA. Upon completion of the Proposed Acquisition, HK Aerospace will become a 50%-owned subsidiary of Hua-An. Please refer to Appendix I of this Announcement for the salient terms of the New SPA.
DETAILS OF THE PROPOSED ACQUISITION. 2.1 Information on PTFSE, Manjung Niaga and the Vendor PTFSE a limited liability company incorporated in the Republic of Indonesia. It is principally involved in the upstream oil and gas sector. PTFSE has, on 25 April 2007, entered into an operations cooperation agreement with PT Pertamina EP to reactivate and optimize the production of petroleum resources in the Tanjung Tiga Timur field in South Sumatera, Indonesia. As at the date of this announcement, PT Xxxxxxx Xxxx Persada (“PTMHP”) and Xxxxxxx Xxxxx (“FI”) hold 90% and 10% equity interest, respectively in PTFSE. Manjung Niaga was incorporated in Malaysia under the Companies Act, 1965, on 6 March 2012 as a private limited company. The issued and paid-up share capital of Manjung Niaga is RM2 comprising two (2) ordinary shares of RM1 each. As at the date of this announcement, Montana Trading Overseas Inc (“Montana”) holds 100% equity interest in Manjung Niaga. Pursuant to a share subscription arrangement to be undertaken between Manjung Niaga, PTMHP, FI and PTFSE (“PTFSE Capitalisation Arrangement”),
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition by TC Champ Sdn Bhd of the Sale Shares, representing the entire equity interest therein from EFS Revision Energy Sdn Bhd with the Purchase Consideration upon the terms and conditions of the SSA.
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition by Hua-An of 100,000 ordinary shares in TPI, representing the entire equity interest from the Vendors for the Purchase Consideration in accordance with the terms and subject to the conditions of the SPA. Upon completion of the Proposed Acquisition, TPI will become a wholly-owned subsidiary of Hua-An. Please refer to Appendix I of this Announcement for the salient terms of the SPA.
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition is undertaken pursuant to the bid submitted to the selling agents, EY and Xxxxxx Xxxxx XXX, acting on behalf of the Officeholders. The Purchase Price of £400 million was arrived at based on the residual land value method taking into consideration the estimated selling prices of the units in this development less the estimated development costs and desired profit margin, and the amount of debt owing by the Vendors.
DETAILS OF THE PROPOSED ACQUISITION. Pursuant to the SSA, the Vendor has agreed to sell and the Purchaser has agreed to purchase the Sale Shares based on the terms and conditions of the SSA. Further information on the salient terms of the SSA are set out in Section 2.3 of this announcement. Innov8tif Holdings would become a 51% owned subsidiary of Hong Seng upon the completion of the sale and purchase of the Sale Shares pursuant to the terms and conditions as set out in the SSA.
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition by TXB of the Sale Shares, representing 25% of the total issued and paid-up share capital of MBits with the Purchase Consideration subject to the terms and conditions as stipulated in the SPA. Upon completion of the Proposed Acquisition, MBits will become an associated company of TXB and the shareholding structure of MBits shall be as follows:- Name of Shareholder Before Proposed Acquisition After Proposed Acquisition No of Ordinary Shares Percentage (%) No. of Ordinary Shares Percentage (%) Vendor 30,000,000 75% 20,000,000 50% Unicorn Legendary Sdn. Bhd. 10,000,000 25% 10,000,000 25% TXB - - 10,000,000 25% Total 40,000,000 100% 40,000,000 100% 2.1 Information of MBits MBits is a private limited company incorporated in Malaysia on 31 December 2014 under the Companies Act, 1965 and having its registered address at Xxxx 0-0-0, Xxxxx’x Xxxxxx, Xxxxx 0, 0xx Xxxxx, Xxxxx Xxxxx Xxx Xxxxx Xxxx, 00000 Wilayah Persekutuan Kuala Lumpur. MBits is a Digital Platform Creator principally involved in the busines of telecommunication and media-telco including but not limited to fiber optics, cloud services, data center, broadcasting IPTV, satellite and other related business activities thereto licensed by the Ministry of Communications and Multimedia Malaysia where the Company is holding CASP (full broadcasting license), NFP, NSP, ASP and MVNO (full telco spectrum) licences in Malaysia. As at 31 January 2021, being the latest practicable date prior to this announcement (“LPD”), MBits has an issued share capital of RM5,500,700.00 comprising 40,000,000 ordinary shares. As at LPD, the directors of MBits are Hor Xxxx Xxxxx, Tamilhselvan a/l Xxxxxx and the Vendor. The shareholders of MBits and their percentage of shareholdings before the Proposed Acquisition are as follows: Name No. of Ordinary Shares Shareholdings % Vendor 30,000,000 75% Unicorn Legendary Sdn. Bhd. 10,000,000 25%
DETAILS OF THE PROPOSED ACQUISITION. On 16 March 2020, PPSB had entered into the SPA with GASB for the Proposed Acquisition. PPSB and GASB shall hereinafter be referred to as the “SPA Parties”. The Proposed Acquisition entails of the proposed acquisition of a freehold land held under Title No. GRN 312795, Lot 25300 in the Mukim of Semenyih, District of Ulu Langat, in the state of Selangor measuring approximately 34,740 square metres /
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition of the Assets and Intellectual Property from the Vendor with the purchase consideration of RM36.0 million upon the terms and conditions of the SPA. Simultaneously, a Deed of Assignment (“DOA”) for the transfer of the Assets and Intellectual Property and such associated intellectual property rights, to the nominee company of the Company, namely Fancy Celebrations Sdn. Bhd. (“FCSB”), a wholly-owned subsidiary of the Company will be executed. Please refer to Appendix I of this Announcement for the salient terms of the SPA.
DETAILS OF THE PROPOSED ACQUISITION. 4.1 The Vendors agree to sell and GREENYIELD agrees to purchase the entire issued and paid-up share capital of ten thousand (10,000) units of ordinary shares of RM1.00 each which have been paid up or credited as fully paid in TPSB free from all lien and other encumbrances and with all rights (inclusive of the TPSB’s permit to use over the said Land for the purpose of cultivation of TLC but excluding the right to felling and extraction of timber from the said Land) attached thereto for a cash consideration of RM2,800,000 upon the terms and subject to the conditions contained in the SPA.
