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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PRESS METAL ALUMINIUM HOLDINGS BERHAD ("PMAH" OR "THE COMPANY") (I) PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTERESTS IN PMB CENTRAL SDN BHD , PMB NORTHERN SDN BHD AND PMB EASTERN SDN BHD BY PMB (KLANG) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF PMAH, FROM EVERLAST ALUMINIUM (M) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF PMB TECHNOLOGY BERHAD; AND II) PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN PMB ALUMINIUM SABAH SDN BHD BY PMB (KLANG) SDN BHD FROM PMB TECHNOLOGY BERHAD - UPDATE

PRESS METAL ALUMINIUM HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
PRESS METAL ALUMINIUM HOLDINGS BERHAD ("PMAH" OR "THE COMPANY")

(I)	PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTERESTS IN PMB CENTRAL SDN BHD , PMB NORTHERN SDN BHD AND PMB EASTERN SDN BHD BY PMB (KLANG) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF PMAH, FROM EVERLAST ALUMINIUM (M) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF PMB TECHNOLOGY BERHAD; AND
		
II)	PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN PMB ALUMINIUM SABAH SDN BHD BY PMB (KLANG) SDN BHD FROM PMB TECHNOLOGY BERHAD - UPDATE

(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as defined in the Company's announcement dated 29 October 2019 except where the context otherwise defined herein.)

 

The Company had on 29 October 2019 announced that PMB (Klang) Sdn Bhd has entered into the following agreements:

 

(i)         Conditional sale and purchase agreement(s) with Everlast Aluminium (M) Sdn Bhd, for the proposed acquisition of the following companies for a total aggregate cash consideration of RM43,182,000:-

 

(a)        2,000,000 ordinary shares in PMB Central Sdn Bhd, representing the entire equity interest in PMB Central Sdn Bhd, for a cash consideration of RM24,958,000;

 

(b)        1,000,000 ordinary shares in PMB Northern Sdn Bhd, representing the entire equity interest in PMB Northern Sdn Bhd, for a cash consideration of RM9,858,000; and

 

(c)        500,000 ordinary shares in PMB Eastern Sdn Bhd,  representing the entire equity interest in PMB Eastern Sdn Bhd, for a cash consideration of RM8,366,000.

 

(ii)       A conditional sale and purchase agreement with PMB Technology Berhad for the proposed acquisition of 200,000 ordinary shares in PMB Aluminium Sabah Sdn Bhd, for a cash consideration of RM1,204,000.

 

The Board of Directors wishes to announce that there has been no further development since the previous announcement.

 

This announcement is dated 28 November 2019.






Announcement Info

Company Name PRESS METAL ALUMINIUM HOLDINGS BERHAD
Stock Name PMETAL
Date Announced 28 Nov 2019
Category General Announcement for PLC
Reference Number GA1-28112019-00089




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