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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS GRAND-FLO BERHAD ("GRAND-FLO" OR THE "COMPANY") - PROPOSED DISPOSALS

GRAND-FLO BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
GRAND-FLO BERHAD ("GRAND-FLO" OR THE "COMPANY")

-	PROPOSED DISPOSALS

On behalf of the Board of Directors of Grand-Flo, AmInvestment Bank Berhad wishes to announce that the Company had on 10 September 2020 entered into the following conditional share sale agreements (“SSA”):-

 

(a) a SSA with Radiant Globaltech Berhad for the proposed disposal of 800,000 ordinary shares in Grand-Flo Spritvest Sdn Bhd (“GFS”) (“GFS Shares”), representing 80% equity interest in GFS for a cash consideration of RM11,600,000 (“Proposed Disposal 1”); and

 

(b) a SSA with Jejaka 7 Capital Sdn Bhd for the proposed disposal of 200,000 GFS Shares, representing 20% equity interest in GFS for a cash consideration of RM2,900,000 (“Proposed Disposal 2”).

 

(The Proposed Disposal 1 and the Proposed Disposal 2 are collectively referred to as the “Proposed Disposals”)

 

Further details of the Proposed Disposals are set out in the attachment.

 

This announcement is dated 10 September 2020.




Please refer attachment below.



Announcement Info

Company Name GRAND-FLO BERHAD
Stock Name GRANFLO
Date Announced 10 Sep 2020
Category General Announcement for PLC
Reference Number GA1-10092020-00024




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