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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KEJURUTERAAN ASASTERA BERHAD [REGISTRATION NO. 199701005009 (420505-H)] ("KAB" OR "THE COMPANY") SALE AND PURCHASE OF SHARES AGREEMENT ENTERED BETWEEN KAB ENERGY HOLDINGS SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF THE COMPANY AND FUTURE NRG SDN. BHD. IN RELATION TO THE PROPOSED ACQUISITION OF 380,000 ORDINARY SHARES IN FUTURE BIOMASS GASIFICATION SDN. BHD. ("PROPOSED ACQUISITION")

KEJURUTERAAN ASASTERA BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
KEJURUTERAAN ASASTERA BERHAD 
[REGISTRATION NO. 199701005009 (420505-H)] ("KAB" OR "THE COMPANY")

SALE AND PURCHASE OF SHARES AGREEMENT ENTERED BETWEEN KAB ENERGY HOLDINGS SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF THE COMPANY AND FUTURE NRG SDN. BHD. IN RELATION TO THE PROPOSED ACQUISITION OF 380,000 ORDINARY SHARES IN FUTURE BIOMASS GASIFICATION SDN. BHD. ("PROPOSED ACQUISITION")
Reference is made to FBGSB’s announcements dated 9 November 2022, 10 November 2022,11 November 2022, and 16 January 2023. Unless otherwise stated, defined terms used in this announcement shall have the same meanings as defined in the announcements dated 9 November 2022, 10 November 2022,11 November 2022, and 16 January 2023.

The Board of Directors of KAB wishes to disclose further information on the announcement made on 16 January 2023 in respect of the SPA:-

(1) The valuation of Land is not considered as part of the purchase consideration under the SPA and the Land will be transferred to FNSB.

(2) The Purchase Consideration of RM15,000,000/- is a commercial decision and the result of negotiation with FNSB. The Purchase Consideration is derived based on the Discounted Cash Flow which meets KAB’s internal rate return.

This announcement is dated 18 January 2023.





Announcement Info

Company Name KEJURUTERAAN ASASTERA BERHAD
Stock Name KAB
Date Announced 18 Jan 2023
Category General Announcement for PLC
Reference Number GA1-18012023-00009




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