Highlights:
add free Download App
premium Premium Account

Last Price Change Volume
Open: Day Range: Prev Close:


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”)
ContentsWe refer to the announcement dated 13 October 2010.

On behalf of the Board of Directors of ABT, M&A Securities Sdn Bhd is pleased to announce that the resolutions set out in the Notice of Extraordinary General Meeting (“EGM”) dated 14 October 2010 and tabled at the EGM of ABT held today at Dewan Seroja, Kelab Golf Perkhidmatan Awam, Bukit Kiara, Off Jalan Damansara, 60000 Kuala Lumpur, was duly approved by the shareholders of ABT.

This announcement is dated 29 October 2010.


Announcement Info

Company NameASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market) 
Stock Name ASIABIO    
Date Announced29 Oct 2010  
CategoryGeneral Announcement
Reference NoOS-101029-A171D



Close