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

BackMay 17, 2019
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description

SALCON BERHAD ('SALCON' OR 'THE COMPANY')

(I) ACQUISITION OF THE ENTIRE EQUITY INTEREST IN CIRCLIC INTERACTIVE TOURISM SDN BHD (FORMERLY KNOWN AS CIRCLIC INTERACTIVE SDN BHD) ('CIT') BY ECO-COACH & TOURS (M) SDN BHD ('ECT').

(II) DISPOSAL OF 65% EQUITY INTEREST IN CIT BY SALCON XINLIAN GROUP LTD (FORMERLY KNOWN AS SALCON WATER INTERNATIONAL LTD) ('SXGL'), TO ECT ('DISPOSAL').

(III) WAIVER OF DEBT OWING BY CIT TO SXGL.

Pursuant to Paragraph 10.08(1) of the Bursa Malaysia Securities Berhad ('Bursa Securities') Main Market Listing Requirements ('Main LR'), the Board of Directors of Salcon ('Board') wishes to announce that on 17 May 2019, ECT had entered into a Sale and Purchase Agreement ('SPA') with the following:-

1. SXGL;

2. Mr See Che Chi ('SCC');

3. Ms Teoh Hooi Fang ('THF');

4. Mr Chuah Tse Leong ('CTL');

5. Dato' Ngiam Foon ('DNF'); and

6. CIT

(each 'a Party' and collectively as 'the Parties')

for the acquisition of a total of 200,000 ordinary shares ('Sale Shares'), representing the entire equity interest in CIT by ECT from SXGL, SCC, THF, CTL and DNF, for a total cash consideration of RM5.00 only ('Purchase Consideration').

Please refer to the attachment for further details.

 

Announcement Info

Company Name SALCON BERHAD
Stock Name SALCON
Date Announced 17 May 2019
Category General Announcement for PLC
Reference Number GA1-25022019-00019

Attachments

  1. SB_Acquisition_of_entire_equity_interest_in_CIT_by_ECT.pdf (Size: 258,352 bytes)