Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
SALCON BERHAD ("SALCON" OR "THE COMPANY") PROPOSED ACQUISITION OF 1,020,000 ORDINARY SHARES, REPRESENTING 51% OF THE TOTAL ISSUED SHARES CAPITAL IN JR ENGINEERING AND MEDICAL TECHNOLOGIES (M) SDN BHD BY NUSANTARA JASAKITA SDN BHD (A 90%-OWNED SUBSIDIARY OF SALCON) FROM GANESAN A/L SUBRAMANIAM |
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Pursuant to Paragraph 10.06 of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), Salcon wishes to announce that Nusantara Jasakita Sdn Bhd, a 90%-owned subsidiary of Salcon (“NJSB” or “Purchaser”) has on 12 November 2020 entered into a Share Sale Agreement (“SSA”) with Ganesan A/L Subramaniam (“Ganesan” or “Vendor”) for the acquisition of 1,020,000 ordinary shares (“Sale Shares”), representing 51% of the total issued shares capital in JR Engineering and Medical Technologies (M) Sdn Bhd (“JREMT”) for a total cash consideration of RM28,560,000.00 only (“Purchase Consideration”) (“Proposed Acquisition”). (NJSB and Ganesan are individually referred to as a “Party” and collectively as “Parties”). NJSB, Ganesan, Hamen A/L Ganesan (“Hamen”) and JREMT will enter into a Shareholders Agreement (“SHA”) to regulate their relationship as shareholders of JREMT, and to govern the management, obligations, rights, commitments, affairs and/or dealings in relation to JREMT on the completion of the SSA.
Please refer to the attachment for further details. |
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Announcement Info
| Company Name | SALCON BERHAD |
| Stock Name | SALCON |
| Date Announced | 12 Nov 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-03112020-00066 |
Attachments
- Ann_Proposed_Acquisition_of_shares_in_JREMT_final.pdf (Size: 222,061 bytes)