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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS Mi TECHNOVATION BERHAD ("Mi TECHNOVATION" OR "COMPANY") PROPOSED ACQUISITION

MI TECHNOVATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
Mi TECHNOVATION BERHAD ("Mi TECHNOVATION" OR "COMPANY")

PROPOSED ACQUISITION

We refer to the announcement dated 8 October 2020 in relation to the memorandum of understanding entered into between the Company (“Purchaser”), Accurus Scientific Co Ltd (“Accurus Scientific” or “Target”) and certain of its shareholders in relation to the proposed acquisition of all or part of the equity interest in Accurus Scientific.

 

On behalf of the board of directors of Mi Technovation (“Board”), Affin Hwang Investment Bank Berhad (“Affin Hwang IB”) wishes to announce that the Company had, on 18 December 2020, entered into a share exchange agreement ("Agreement”) with Accurus Scientific and the Vendors (as defined in Section 1 of Appendix I of this announcement) for the acquisition of 21,983,000 common shares in Accurus Scientific (“Accurus Scientific Shares”), representing approximately 99% equity interest in Accurus Scientific for a total purchase consideration of approximately NTD1,878,157,550 (equivalent to RM271,012,500) (“Purchase Consideration”) (“Proposed Acquisition”).

 

Please refer to the attachment for further details.


This announcement is dated 18 December 2020.




Please refer attachment below.



Announcement Info

Company Name MI TECHNOVATION BERHAD
Stock Name MI
Date Announced 18 Dec 2020
Category General Announcement for PLC
Reference Number GA1-18122020-00045




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