General Announcement for PLC

06/08/2018

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ADVANCE SYNERGY BERHAD ("ASB") OR ("THE COMPANY") PROPOSED DISPOSAL OF 40% EQUITY INTEREST IN HELENIUM HOLDINGS LIMITED ("HELENIUM"), A 40%-OWNED INDIRECT ASSOCIATE COMPANY OF ASB HELD VIA SYNERGY REALTY INCORPORATED ("SRI"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY HELD VIA ADVANCE SYNERGY PROPERTIES SDN BHD ("ASP"), A WHOLLY-OWNED SUBSIDIARY OF ADVANCE SYNERGY BERHAD ("ASB")

ADVANCE SYNERGY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
ADVANCE SYNERGY BERHAD ("ASB") OR ("THE COMPANY") 
PROPOSED DISPOSAL OF 40% EQUITY INTEREST IN HELENIUM HOLDINGS LIMITED ("HELENIUM"), A 40%-OWNED INDIRECT ASSOCIATE COMPANY OF ASB HELD VIA SYNERGY REALTY INCORPORATED ("SRI"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY HELD VIA ADVANCE SYNERGY PROPERTIES SDN BHD ("ASP"), A WHOLLY-OWNED SUBSIDIARY OF ADVANCE SYNERGY BERHAD ("ASB")

The Board of Directors of ASB wishes to announce that SRI had on 3 August 2018 agreed via a Memorandum of Sale dated 3 August 2018 to dispose of its entire investment of 40% equity interest (represented by 6,400,040 ordinary shares of USD1.00 each) (“the Sale Shares”) in Helenium Holdings Limited (“Helenium”) to EEH Ventures Limited (or affiliate) (“the Purchaser”), for a cash consideration of GBP8.73 million (equivalent to approximately RM46.637 million)(“Proposed Disposal”).

Further details on the Proposed Disposal are set out in the attachment.

This announcement is dated 6 August 2018.


Please refer attachment below.


Announcement Info

Company Name ADVANCE SYNERGY BERHAD
Stock Name ASB
Date Announced 06 Aug 2018
Category General Announcement for PLC
Reference Number GA1-06082018-00053


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