Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions

BackApr 29, 2024

 

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description SALCON BERHAD ("SALCON" OR THE "COMPANY") - PROPOSED ACQUISITION OF SPH DENTAL SDN BHD

INTRODUCTION

 

The Board of Directors of Salcon ("Board") wishes to announce that Salcon Smile Sdn Bhd (formerly known as JR Healthcare Sdn Bhd) ("Salcon Smile" or the "Purchaser"), an indirect 90%-owned subsidiary of Salcon, had on 27 April 2024, entered into the following:

  1. a conditional share sale agreement ("SSA") with Dr. Harveen Kaur Boparoy A/P Jasbir Singh and Prakash A/L Sinnappu (collectively, the "Vendors" or the "Grantees") for the proposed acquisition by Salcon Smile of 35,000 ordinary shares in SPH Dental Sdn Bhd ("SPH Dental") ("SPH Dental Share(s)"), representing 70% equity interest in SPH Dental, for a purchase consideration of RM7,280,000 to be satisfied entirely via cash ("Purchase Consideration"), subject to the terms and conditions contained in the SSA; and
  2. a put option agreement ("Put Option Agreement") with the Grantees wherein the Purchaser agrees to grant an option ("Put Option") in favour of the Grantees for the remaining 15,000 SPH Dental Shares, representing the remaining 30% equity interest in SPH Dental, subject to the terms and conditions contained in the Put Option Agreement.

(collectively, the "Proposed Acquisition").

 

In conjunction thereto, Salcon Smile, had on even date entered into a shareholders' agreement with the Vendors to regulate their rights and obligations as shareholders of SPH Dental and in respect of the management and business affairs of SPH Dental ("SHA").

 

Please refer to the attachment for further details.

 

Please refer attachment below.

 

Announcement Info

Company Name SALCON BERHAD
Stock Name SALCON
Date Announced 29 Apr 2024
Category General Announcement for PLC
Reference Number GA1-26042024-00050

Attachments

  1. Salcon_-_Proposed_Acquisition_of_SPH_Dental_Sdn._Bhd._20240429.pdf (Size: 239,250 bytes)