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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PETERLABS HOLDINGS BERHAD ("PHB" OR "COMPANY") (I) PROPOSED ACQUISITION; AND (II) PROPOSED DIVERSIFICATION COLLECTIVELY REFERRED TO AS "PROPOSALS".

PETERLABS HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PETERLABS HOLDINGS BERHAD ("PHB" OR "COMPANY")

(I)	PROPOSED ACQUISITION; AND

(II)	PROPOSED DIVERSIFICATION

COLLECTIVELY REFERRED TO AS "PROPOSALS".

On behalf of the Board of Directors of PHB, Alliance Investment Bank Berhad wishes to announce that the Company proposes to undertake the following:

 

(i)  proposed acquisition of 60% equity interest in Thye On Tong Trading Sdn Bhd ("TOT"), comprising 600,000 ordinary shares in TOT, from Datuk Loh Saw Foong and Datin Lin Ching Yein, for a purchase consideration of RM10,800,000 to be satisfied via combination of cash consideration of RM3,000,000 and issuance of 39,000,000 new ordinary shares in PHB (“PHB Share(s)”) at an issue price of RM0.20 per PHB Share (“Proposed Acquisition”); and

 

(ii) proposed diversification of the existing business of PHB and its subsidiaries to include the distribution of consumer goods (“Proposed Diversification”).

 

Further details of the Proposals are set out in the attachment.

 

This announcement is dated 22 July 2020.




Please refer attachment below.



Announcement Info

Company Name PETERLABS HOLDINGS BERHAD
Stock Name PLABS
Date Announced 22 Jul 2020
Category General Announcement for PLC
Reference Number GA1-22072020-00106




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