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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS ASIA BIOENERGY TECHNOLOGIES BERHAD (“ABT” OR THE “COMPANY”) 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 (“PROPOSED DISPOSAL”)

ASIA BIOENERGY TECHNOLOGIES BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionASIA BIOENERGY TECHNOLOGIES BERHAD (“ABT” OR THE “COMPANY”)

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 (“PROPOSED DISPOSAL”)

Attachments

ABT - MLABS ann.pdf
11 KB



Announcement Info

Company NameASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market) 
Stock Name ASIABIO    
Date Announced21 Nov 2011  
CategoryGeneral Announcement
Reference NoOS-111121-5C1BF



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