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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY KAB ENERGY POWER SDN BHD (KABEP), A WHOLLY-OWNED SUBSIDIARY OF KAB OF 750,000 ORDINARY SHARES IN MERU ONE SDN BHD (MERU), REPRESENTING 100% OF THE TOTAL PAID UP SHARE CAPITAL IN MERU, FROM INVEST ENERGY SDN BHD (INVEN) FOR A TOTAL CASH CONSIDERATION OF RM4,100,000.00 (PROPOSED ACQUISITION).

KEJURUTERAAN ASASTERA BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION BY KAB ENERGY POWER SDN BHD (KABEP), A WHOLLY-OWNED SUBSIDIARY OF KAB OF 750,000 ORDINARY SHARES IN MERU ONE SDN BHD (MERU), REPRESENTING 100% OF THE TOTAL PAID UP SHARE CAPITAL IN MERU, FROM INVEST ENERGY SDN BHD (INVEN) FOR A TOTAL CASH CONSIDERATION OF RM4,100,000.00 (PROPOSED ACQUISITION).

References are made to the Company’s announcements dated 25 March 2020, 24 April 2020, 23 June 2020, 26 August 2020, 25 September 2020, 28 October 2020, 8 March 2021, 2 June 2021, 30 June 2021, 27 August 2021 and 25 October 2021. Unless otherwise stated, defined terms used in this announcement shall have the same meanings as those used in the earlier announcements.

The Board of Directors of KAB wishes to announce that KABEP has informed INVEN that there is a fundamental breach of terms under the Shares Sale and Purchase Agreement dated 5 March 2021 (“SPA”). In connection thereto, the SPA shall be terminated in accordance with the terms stipulated therein.

This announcement is dated 2 December 2021.






Announcement Info

Company Name KEJURUTERAAN ASASTERA BERHAD
Stock Name KAB
Date Announced 02 Dec 2021
Category General Announcement for PLC
Reference Number GA1-30112021-00010




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