| Company Name | : | FAVELLE FAVCO BERHAD |
| Stock Name | : | FAVCO |
| Date Announced | : | 28 Mar 2018 |
| Category | : | General Announcement for PLC |
| Reference Number | : | GA1-28032018-00101 |
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS FAVELLE FAVCO BERHAD ("FAVCO" OR "THE COMPANY") PROPOSED ACQUISITION BY FAVCO OF 70% EQUITY INTERESTS IN EACH OF THE FOLLOWING COMPANIES: (I) EXACT AUTOMATION SDN BHD ("EXACT AUTOMATION"); (II) SEDIA TEGUH SDN BHD ("SEDIA TEGUH"); (III) EXACT ANALYTICAL SDN BHD ("EXACT ANALYTICAL"); AND (IV) EXACT OIL & GAS SDN BHD ("EXACT OIL & GAS") (HEREINAFTER REFERRED TO AS THE "PROPOSED ACQUISITION")
FAVELLE FAVCO BERHAD
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Type |
Announcement |
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Subject |
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS |
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Description |
FAVELLE FAVCO BERHAD ("FAVCO" OR "THE COMPANY")
PROPOSED ACQUISITION BY FAVCO OF 70% EQUITY INTERESTS IN EACH OF THE FOLLOWING COMPANIES:
(I) EXACT AUTOMATION SDN BHD ("EXACT AUTOMATION");
(II) SEDIA TEGUH SDN BHD ("SEDIA TEGUH");
(III) EXACT ANALYTICAL SDN BHD ("EXACT ANALYTICAL"); AND
(IV) EXACT OIL & GAS SDN BHD ("EXACT OIL & GAS")
(HEREINAFTER REFERRED TO AS THE "PROPOSED ACQUISITION") |
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We refer to our announcements dated 5 October 2017, 4 January 2018 and 2 March 2018 in relation to the heads of agreement for the Proposed Acquisition. The Board of Directors (“Board”) of Favco wishes to announce that the Company had on 28 March 2018 entered into a conditional share purchase agreement (“SPA”) with the vendors in relation to the Proposed Acquisition. Upon completion of the Proposed Acquisition, Favco shall hold 70% equity interest in each of the Target Companies, while the Vendors for each of the Target Companies shall hold the remaining 30% in accordance with their respective current shareholding proportions.
Please refer to the attachment for further information. |
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