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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED INVESTMENT BY XL IN XTRA DELIVERY SDN. BHD. ("XDSB") IN THE FOLLOWING MANNER (COLLECTIVELY KNOWN AS "PROPOSED INVESTMENT"): (I) ACQUISITION OF 5,151 ORDINARY SHARES, REPRESENTING 51% EQUITY INTEREST IN XDSB, FROM CHUA HAT ZEN, LEE CHIAW HUAT AND TEH HONG SENG ("PROMOTERS"), FOR A PURCHASE CONSIDERATION OF RM10 TO BE SATISFIED VIA CASH; AND (II) SUBSCRIPTION OF UP TO 1,274,949 ORDINARY SHARES IN XDSB FOR THE TOTAL SUBSCRIPTION PRICE OF UP TO RM2,500,000

XL HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
PROPOSED INVESTMENT BY XL IN XTRA DELIVERY SDN. BHD. ("XDSB") IN THE FOLLOWING MANNER (COLLECTIVELY KNOWN AS "PROPOSED INVESTMENT"):

(I)	ACQUISITION OF 5,151 ORDINARY SHARES, REPRESENTING 51% EQUITY INTEREST IN XDSB, FROM CHUA HAT ZEN, LEE CHIAW HUAT AND TEH HONG SENG ("PROMOTERS"), FOR A PURCHASE CONSIDERATION OF RM10 TO BE SATISFIED VIA CASH; AND 
(II)	SUBSCRIPTION OF UP TO 1,274,949 ORDINARY SHARES IN XDSB FOR THE TOTAL SUBSCRIPTION PRICE OF UP TO RM2,500,000

The Board of Directors of XL wishes to announce that XL had on 29 March 2022 entered into an Investment Agreement with the Promoters for the Proposed Investment.

 

Please refer to the attachment for details of this announcement.

 

This announcement is dated 30 March 2022.


Please refer attachment below.

Attachments

XL Holdings Berhad - Proposed Investment.pdf
150.9 kB


Announcement Info

Company Name XL HOLDINGS BERHAD
Stock Name XL
Date Announced 30 Mar 2022
Category General Announcement for PLC
Reference Number GA1-28032022-00077




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