Announcement Details/Table Section :
The Board of Directors of Salcon Berhad (“Salcon” or “the Company”) is pleased to announce that the Company has on even date entered into the following agreements:-
(i) A Sale and Purchase Agreement with Darco Water Technologies Ltd (Registration No. 200106732C) (“Darco Water Technologies”) for the acquisition of 15,461,076 ordinary shares of S$1.00 each (“Sale Shares”) in Darco Environmental Pte Ltd (Registration No. 200107899E) (“Darco Environmental”) representing 60% of the issued and paid up share capital of Darco Environmental for a cash purchase consideration of RMB95,830,690.00 (equivalent to RM47,474,524) (“SPA”); and
(ii) A Shareholders’ Agreement with Darco Water Technologies to regulate their relationship as shareholders of Darco Environmental and the management and operation of Darco Environmental .
(“Proposed Acquisition”)
Subsequent to the Proposed Acquisition, Darco Environmental shall be a subsidiary of Salcon.
For details of the announcement, please refer to the attached file.
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