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ASIA BIOENERGY TECHNOLOGIES BERHAD (“ABT” OR THE “COMPANY”) (I) PROPOSED DISPOSAL OF 5,000,000 ORDINARY SHARES OF RM1.00 EACH IN GRAND INIZIO SDN BHD (“GI”), REPRESENTING 19.31% EQUITY INTEREST IN GI HELD BY ASIA BIOENERGY RESEARCH SDN BHD (“ABR”), A WHOLLY-OWNED SUBSIDIARY OF ABT TO MLABS SYSTEMS BERHAD (“MLABS”) FOR A TOTAL CONSIDERATION OF RM15,366,795, TO BE SATISFIED VIA THE ISSUANCE OF 153,667,950 NEW ORDINARY SHARES OF RM0.10 EACH IN MLABS TO ABR (II) PROPOSED PRIVATE PLACEMENT OF UP TO 118,000,000 NEW ORDINARY SHARES OF RM0.10 EACH IN ABT REPRESENTING APPROXIMATELY UP TO 30.03% OF THE ENLARGED ISSUED AND PAID-UP CAPITAL OF ABT (COLLECTIVELY, THE “PROPOSALS”)

ASIA BIOENERGY TECHNOLOGIES BERHAD

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

(I) PROPOSED DISPOSAL OF 5,000,000 ORDINARY SHARES OF RM1.00 EACH IN GRAND INIZIO SDN BHD (“GI”), REPRESENTING 19.31% EQUITY INTEREST IN GI HELD BY ASIA BIOENERGY RESEARCH SDN BHD (“ABR”), A WHOLLY-OWNED SUBSIDIARY OF ABT TO MLABS SYSTEMS BERHAD (“MLABS”) FOR A TOTAL CONSIDERATION OF RM15,366,795, TO BE SATISFIED VIA THE ISSUANCE OF 153,667,950 NEW ORDINARY SHARES OF RM0.10 EACH IN MLABS TO ABR

(II) PROPOSED PRIVATE PLACEMENT OF UP TO 118,000,000 NEW ORDINARY SHARES OF RM0.10 EACH IN ABT REPRESENTING APPROXIMATELY UP TO 30.03% OF THE ENLARGED ISSUED AND PAID-UP CAPITAL OF ABT

(COLLECTIVELY, THE “PROPOSALS”)
ContentsM&A Securities Sdn Bhd on behalf of the Company wishes to announce that an Extraordinary General Meeting of ABT will be held at Dewan Seroja, Kelab Golf Perkhidmatan Awam, Bukit Kiara, Off Jalan Damansara, 60000 Kuala Lumpur on Friday, 29 October 2010 at 10.30 a.m. or at any adjournment thereof or the purpose of considering and if thought fit to pass the resolutions pertaining to the Proposals.

Kindly refer to the attachment for further details.

This announcement is dated 13 October 2010.

Attachments

ASIA BIO_NST.pdf
246 KB



Announcement Info

Company NameASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market) 
Stock Name ASIABIO    
Date Announced13 Oct 2010  
CategoryGeneral Announcement
Reference NoOS-101004-CEA8B



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