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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS NETX HOLDINGS BERHAD - PROPOSED ACQUISITIONS OF ENTIRE EQUITY INTEREST IN SUNGAI WANG PLAZA SDN BHD AND SUNGAI WANG HOLDINGS SDN BHD

NETX HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
NETX HOLDINGS BERHAD 
- PROPOSED ACQUISITIONS OF ENTIRE EQUITY INTEREST IN SUNGAI WANG PLAZA SDN BHD AND SUNGAI WANG HOLDINGS SDN BHD

The Board of Directors of NetX Holdings Berhad (“NetX” or “the Company”) wishes to announce that the Company had on 3 September 2021, entered into 2 separate share sale agreements for the following : 

 

i) Proposed acquisition of 1,000 ordinary shares and 9,800,000 irredeemable convertible preference shares in Sungei Wang Plaza Sdn Bhd (“SWP”), representing 100% equity interest in SWP (“Sale Shares I”), at a total cash consideration of RM10.00 only pursuant to a Share Sale Agreement (“Share Sale Agreement I”) entered with Sungei Wang Group Sdn Bhd (“Vendor I”); and 

 

ii) Proposed acquisition of 60,002 ordinary shares in Sungei Holdings Sdn Bhd (“SWH”), representing 100% equity interest in SWH (“Sale Shares II”) and 23,342,574 new ordinary shares to be issued by SWH to Tan Peng Koon (“New SWH Shares”), at a total cash consideration of RM10.00 only pursuant to a Share Sale Agreement (“Share Sale Agreement II”) entered with Tan Peng Koon and Chew Hui Khuan (collectively as “Vendor II”). 

 

(collectively the above proposals referred to as “Proposed Acquisitions”) 

 

Upon completion of the Proposed Acquisitions, both SWP and SWH will become a wholly-owned subsidiaries of NetX.

 

Please refer to the attachment for further details of the Proposed Acquisitions. 

 

This announcement is dated 3 September 2021.




Please refer attachment below.



Announcement Info

Company Name NETX HOLDINGS BERHAD
Stock Name NETX
Date Announced 03 Sep 2021
Category General Announcement for PLC
Reference Number GA1-03092021-00014




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