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PROPOSED DISPOSAL OF PROPERTY ("PROPERTY")

INDUSTRONICS BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-21112017-00001
Subject PROPOSED DISPOSAL OF PROPERTY ("PROPERTY")
Description
INDUSTRONICS BERHAD ("INDUSTRONICS" OR "THE COMPANY")
PROPOSED DISPOSAL OF PROPERTY
Query Letter Contents

We refer to your Company’s announcement dated 20 November 2017, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1.        The quantification of the market value of the Property based on the valuation conducted on 31 December 2016.

2.        The date of payment of RM104,000 to the Vendor.

3.        The dates by which the various amounts will be paid to the Ketua Pengarah Lembaga Hasil Dalam Negeri, Vendor's agent and Vendor's solicitors respectively.

4.        Quantify the amount to be received by Industronics Berhad ("ITRONIC") from the distribution to the shareholders of the Vendor of the proceeds from the Proposed Disposal of Property.

5.        The proposed utilisation for the balance of proceeds that will be remitted to the Vendor, the breakdown and timeframe for full utilisation.

6.        The actual amount of the proceeds from the proposed disposal of property for working capital of ITRONIC Group and timeframe for full utilisation.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,

 

TAN YEW ENG
Vice President, Issuers
Listing, Regulation

TYE/NZ

Cc : Market Surveillance Dept. , Securities Commission (via fax)

We refer to the letter from Bursa Malaysia Securities Berhad dated 21 November 2017 in relation to the Company’s announcement dated 20 November 2017 on the above matter.

The words and expressions used herein shall have the same meanings as those attributed to them in the aforesaid announcement.

As required, we furnish herewith the additional information as set out in the attachment.

This announcement is dated 27 November 2017.



Please refer attachment below.



Announcement Info

Company Name INDUSTRONICS BERHAD
Stock Name ITRONIC
Date Announced 27 Nov 2017
Category General Announcement for PLC
Reference Number GA1-24112017-00001




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