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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MALAYSIAN BULK CARRIERS BERHAD ("MBC" OR THE "COMPANY") ACQUISITION OF 100% EQUITY INTEREST IN EMT SYSTEMS SDN BHD (FORMERLY KNOWN AS E METALL SYSTEMS SDN BHD) ("EMTS") FOR A PURCHASE CONSIDERATION OF RM70,000,000 ("ACQUISITION")

MALAYSIAN BULK CARRIERS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
MALAYSIAN BULK CARRIERS BERHAD ("MBC" OR THE "COMPANY") 

ACQUISITION OF 100% EQUITY INTEREST IN EMT SYSTEMS SDN BHD (FORMERLY KNOWN AS E METALL SYSTEMS SDN BHD) ("EMTS") FOR A PURCHASE CONSIDERATION OF RM70,000,000 ("ACQUISITION")

On behalf of the Board of Directors of the Company, Kenanga Investment Bank Berhad wishes to announce that the Company had on 18 January 2023 entered into a share sale agreement with Grand East Metal (Kulim) Sdn Bhd and Goh Ting Hong (collectively referred to as the “Vendors”) for the acquisition of 1,000,000 ordinary shares in EMTS, representing the entire equity interest in EMTS, for a total purchase consideration of RM70,000,000.

 

Following the Acquisition, EMTS will become a wholly-owned subsidiary of MBC.

 

Please refer to the attachment for further details.

 

This announcement is dated 18 January 2023.




Please refer attachment below.



Announcement Info

Company Name MALAYSIAN BULK CARRIERS BERHAD
Stock Name MAYBULK
Date Announced 18 Jan 2023
Category General Announcement for PLC
Reference Number GA1-18012023-00070



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