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ASIA BIOENERGY TECHNOLOGIES BERHAD (“ABT” OR THE “COMPANY”) PROPOSED DISPOSAL OF THE ENTIRE 19.3% EQUITY INTEREST HELD BY ASIA BIOENERGY RESEARCH SDN BHD (“ABR”), A WHOLLY-OWNED SUBSIDIARY OF ABT, IN ABR’S INVESTMENT COMPANY, GRAND INIZIO SDN BHD (“GI”) OF RM5,000,000 REPRESENTING 5,000,000 ORDINARY SHARES OF RM1.00 EACH TO MLABS SYSTEMS BERHAD (“MLABS”) (“PROPOSED DISPOSAL”)

ASIA BIOENERGY TECHNOLOGIES BERHAD

TypeAnnouncement
SubjectASIA BIOENERGY TECHNOLOGIES BERHAD (“ABT” OR THE “COMPANY”)

PROPOSED DISPOSAL OF THE ENTIRE 19.3% EQUITY INTEREST HELD BY ASIA BIOENERGY RESEARCH SDN BHD (“ABR”), A WHOLLY-OWNED SUBSIDIARY OF ABT, IN ABR’S INVESTMENT COMPANY, GRAND INIZIO SDN BHD (“GI”) OF RM5,000,000 REPRESENTING 5,000,000 ORDINARY SHARES OF RM1.00 EACH TO MLABS SYSTEMS BERHAD (“MLABS”)

(“PROPOSED DISPOSAL”)
ContentsWe refer to the Company’s announcement dated 18 May 2010 on the above matter.

On behalf of the Company, M&A Securities Sdn Bhd (“M&A”) wishes to announce that M&A has been appointed on 3 August 2010 as the adviser to ABT for the Proposed Disposal. Further, the Company wishes to clarify that the Proposed Disposal is subject to the approval being obtained from the shareholders of ABT at an Extraordinary General Meeting to be convened. Accordingly, a circular to shareholders will be issued in due course to seek the shareholders’ approval for the Proposed Disposal.

This announcement is dated 3 August 2010.


Announcement Info

Company NameASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market) 
Stock Name ASIABIO    
Date Announced3 Aug 2010  
CategoryGeneral Announcement
Reference NoOS-100803-61863



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