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PROPOSED DISPOSAL BY TA WIN COPPER BIOHEALTH SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF THE ENTIRE ORDINARY SHARES HELD BY IT IN ROYCE PHARMA MANUFACTURING SDN. BHD., TO POLY LABORATORIES SDN. BHD. AND JELITA SERBANEKA SDN. BHD. FOR A TOTAL CONSIDERATION OF RM20,850,000.00 TO BE SATISFIED BY CASH

TA WIN HOLDINGS BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-20062022-00001
Subject PROPOSED DISPOSAL BY TA WIN COPPER BIOHEALTH SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF THE ENTIRE ORDINARY SHARES HELD BY IT IN ROYCE PHARMA MANUFACTURING SDN. BHD., TO POLY LABORATORIES SDN. BHD. AND JELITA SERBANEKA SDN. BHD. FOR A TOTAL CONSIDERATION OF RM20,850,000.00 TO BE SATISFIED BY CASH
Description
TA WIN HOLDINGS BERHAD ("TA WIN" OR "THE COMPANY") 
- 	REPLY TO THE LETTER FROM BURSA MALAYSIA SECURITIES BERHAD DATED 20 JUNE 2022 (REF. ID.: IQL-20062022-00001)
Query Letter Contents

We refer to your Company’s announcement dated 16 June 2022, in respect of the aforesaid matter.


In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

 

1) To provide further elaboration on the basis and justification of the Disposal Consideration, other than only stating "willing-buyer and willing-seller basis".


2) To provide the detailed breakdown for the proceeds to be received from the Proposed Disposal that will be utilised as general working capital of TWCB.


3) To recompute the percentage ratio in accordance with Paragraph 10.02(g) of LR by using the latest published or announced audited financial statements of the Company.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,

Listing Division

Regulation

 

Cc : Market Surveillance Dept. , Securities Commission 

For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement made on 16 June 2022.

 

Reference is made to the announcement dated 16 June 2022 and Bursa Malaysia Securities Berhad's ("Bursa Securities") letter and email dated 20 June 2022 in relation to the above subject matter.

 

The Board of Directors of Ta Win is pleased to provide further information as requested by Bursa Securities in the attachment herein.

 

This announcement is dated 21 June 2022.



Please refer attachment below.



Announcement Info

Company Name TA WIN HOLDINGS BERHAD
Stock Name TAWIN
Date Announced 21 Jun 2022
Category General Announcement for PLC
Reference Number GA1-21062022-00008




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