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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SUNZEN BIOTECH BERHAD ("SUNZEN") (I) ACQUISITION OF 5,250,000 ORDINARY SHARES IN ECOLITE BIOTECH MANUFACTURING SDN BHD (ECOLITE), REPRESENTING 70% EQUITY INTEREST IN ECOLITE FROM CHUM MUN CUAN AND LIM POH CHUW, FOR A TOTAL PURCHASE CONSIDERATION OF RM12,050,360 ("ACQUISITION"); AND (II) DIVERSIFICATION INTO THE MANUFACTURING AND TRADING OF TRADITIONAL CHINESE MEDICINES AND HERBAL HEALTH FOODS AND BEVERAGES ("DIVERSIFICATION") COLLECTIVELY, THE "PROPOSALS"

SUNZEN BIOTECH BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
SUNZEN BIOTECH BERHAD ("SUNZEN")

(I)	ACQUISITION OF 5,250,000 ORDINARY SHARES IN ECOLITE BIOTECH MANUFACTURING SDN BHD (ECOLITE), REPRESENTING 70% EQUITY INTEREST IN ECOLITE FROM CHUM MUN CUAN AND LIM POH CHUW, FOR A TOTAL PURCHASE CONSIDERATION OF RM12,050,360 ("ACQUISITION"); AND

(II)	DIVERSIFICATION INTO THE MANUFACTURING AND TRADING OF TRADITIONAL CHINESE MEDICINES AND HERBAL HEALTH FOODS AND BEVERAGES ("DIVERSIFICATION")

COLLECTIVELY, THE "PROPOSALS"

Reference is made to the announcements dated 7 July 2017, 6 September 2017, 12 September 2017, 7 November 2017, 9 November 2017, 26 January 2018, 9 February 2018, 6 March 2018 and 13 April 2018.

 

On behalf of the Board of Directors of SUNZEN, M&A Securities Sdn Bhd is pleased to announce that all conditions precedent set out in the share sale agreement dated 26 January 2018 with Chum Mun Cuan and Lim Poh Chuw for the Acquisition (“SSA”) have been performed or satisfied on 30 May 2018.  Accordingly the SSA has become unconditional.

 

 

 

This announcement is dated 30 May 2018.






Announcement Info

Company Name SUNZEN BIOTECH BERHAD
Stock Name SUNZEN
Date Announced 30 May 2018
Category General Announcement for PLC
Reference Number GA1-30052018-00122




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