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 20,000 ordinary shares in HK Aerospace, representing the entire equity interest 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 wholly-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. 1 The Proposed Acquisition 1, which forms part of the Proposed Settlement, entails the acquisition by DAC Properties, being the joint venture company for DRJ and CGM for the JV Land at the Purchase Consideration 1 to be settled fully via cash in accordance with SPA 1. Subject to the terms and conditions contained in SPA 1, JCD, JLand and JCorp shall sell and DAC Properties shall purchase the JV Land, free from any encumbrances, with vacant possession, subject to all restriction of interest and conditions of title, whether express or implied, existing category of land use affecting the JV Land and on the basis that each of the warranties relating to the JV Land are true and accurate in all respects.
DETAILS OF THE PROPOSED ACQUISITION. 2 The Proposed Acquisition 2 entails the acquisition by DRJ and its wholly-owned subsidiary, being DAC Land, of the Remaining Land at the Purchase Consideration 2 to be settled fully via cash in accordance with SPA 2. Subject to the terms and conditions contained in SPA 2, JCD, JLand and JCorp shall sell and DAC Land and DRJ shall purchase the Remaining Land, free from any encumbrances, with vacant possession, subject to all restriction of interest and conditions of title, whether express or implied, existing category of land use affecting the Remaining Land and on the basis that each of the warranties relating to the Remaining Land are true and accurate in all respects.
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. 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. 2.1 INFORMATION OF VENDOR IGSB was incorporated in Malaysia under the then Companies Act 1965 on 26 May 2001 and is deemed registered under the Companies Act 2016. IGSB is principally engaged in property development. As of the date of this announcement, the total issued share capital of IGSB is RM9,551,000.00 comprising of 9,000,000 ordinary shares. As at date of this announcement, the Directors of IGSB are Dato’ Low Eng Xxxx, Xxx Xxxx Xxxxx and Xxx Xxx Xxxxx. IGSB is a wholly owned subsidiary of Ivory Properties Group Berhad (“Ivory”), a public company listed on the Main Market of Bursa Malaysia Securities Berhad.
DETAILS OF THE PROPOSED ACQUISITION. The details of the Proposed Acquisition are as follows: Date of Agreement : 7 June 2022 Registered owner : Chee Su Yu & Sons Sdn. Bhd. (Registration No. 197901005967 / 50250-A) Title particulars : Country Lease No. 075323661 situated at Mile 00, Xxxxx Xxxx, xx xxx xxxxxxxx xx Xxxxxxxx, Xxxxx Category of land use : Agriculture (cultivation of coconuts and oil palm) Existing use and description : The Proposed Acquisition is currently planted with matured oil palms (485 acres) and the rest are facilities (15.5 acre).
