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ASIA BIOENERGY TECHNOLOGIES BERHAD (“ABT” OR “THE COMPANY”) - PROPOSED DISPOSAL OF 1,143,434 ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 1.56% OF THE TOTAL ORDINARY SHARES, IN PLATINUM NANOCHEM SDN BHD (FORMERLY KNOWN AS PLATINUM ENERGY SDN BHD) ("PNSB") TO BIOFUTURES INTERNATIONAL PLC (“BIP”) FOR A TOTAL CONSIDERATION OF £999,107 (EQUIVALENT TO RM4,841,673) (“PROPOSAL”)

ASIA BIOENERGY TECHNOLOGIES BERHAD

TypeReply to query
Reply to Bursa Malaysia's Query Letter - Reference IDNS-121214-33344
SubjectASIA BIOENERGY TECHNOLOGIES BERHAD (“ABT” OR “THE COMPANY”) - PROPOSED DISPOSAL OF 1,143,434 ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 1.56% OF THE TOTAL ORDINARY SHARES, IN PLATINUM NANOCHEM SDN BHD (FORMERLY KNOWN AS PLATINUM ENERGY SDN BHD) ("PNSB") TO BIOFUTURES INTERNATIONAL PLC (“BIP”) FOR A TOTAL CONSIDERATION OF £999,107 (EQUIVALENT TO RM4,841,673) (“PROPOSAL”)
DescriptionASIA BIOENERGY TECHNOLOGIES BERHAD (“ABT” OR “THE COMPANY”) - PROPOSED DISPOSAL OF 1,143,434 ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 1.56% OF THE TOTAL ORDINARY SHARES, IN PLATINUM NANOCHEM SDN BHD (FORMERLY KNOWN AS PLATINUM ENERGY SDN BHD) ("PNSB") TO BIOFUTURES INTERNATIONAL PLC (“BIP”) FOR A TOTAL CONSIDERATION OF £999,107 (EQUIVALENT TO RM4,841,673) (“PROPOSAL”)
Query Letter Contents We refer to your announcement dated 11 December 2012 in respect of the above
captioned matter.

In this connection, kindly furnish Bursa Securities with the following
additional information for public release :-

1. The estimated timeframe for submission of the application to the Bank Negara
Malaysia and other relevant authorities.
2. The justification for the discount of 31% over the lower range of the
Valuer's indicative value of RM581 million.
3. The justification for the premium of 125% over the last quoted price of BIP
on 10 December 2012.
4. The weighted average market price for the shares of BIP for the 5 market
days before the date on which terms of the Proposed Disposal were agreed upon.
5. The prospects of BIP.
6. The effect on the earnings per share of your Group for financial years
ending 31 January 2013 and 31 January 2014.
7. The net assets per share of Asia Bioenergy Technologies Berhad as at 31
January 2012, and after the Proposed Disposal, assuming the Proposed Disposal
had been completed on 31 January 2012.
8. Particulars of all liabilities to be assumed by BIP arising from the
acquisition of the Sale Shares.


...2/-








Kindly furnish Bursa Securities with your reply within one (1) market day from
the date hereof.


Yours faithfully



TAN YEW ENG
Head, Issuers
Listing Division
Regulation

TYE/NZ

c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)


Announcement Info

Company NameASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market) 
Stock Name ASIABIO    
Date Announced17 Dec 2012  
CategoryGeneral Announcement
Reference NoCK-121217-63651



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