General Announcement for PLC

21/12/2018

OTHERS ADVANCE SYNERGY BERHAD ("ASB") OR ("COMPANY") PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN BEAVER HOTELS LIMITED BY 57-59 PHILBEACH GARDENS LIMITED ("PGL" or "Purchaser"), A WHOLLY-OWNED SUBSIDIARY INCORPORATED IN UNITED KINGDOM OF POSTHOTEL AROSA AG ("Arosa"), A 65%-OWNED INDIRECT SUBSIDIARY COMPANY OF ASB HELD VIA HOLIDAY VILLA ASSETS SDN BHD ("HVA"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY HELD VIA ALANGKA-SUKA HOTELS & RESORTS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF ASB

ADVANCE SYNERGY BERHAD

Type Announcement
Subject OTHERS
Description 
ADVANCE SYNERGY BERHAD ("ASB") OR ("COMPANY") 
PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN BEAVER HOTELS LIMITED BY 57-59 PHILBEACH GARDENS LIMITED ("PGL" or "Purchaser"), A WHOLLY-OWNED SUBSIDIARY INCORPORATED IN UNITED KINGDOM OF POSTHOTEL AROSA AG ("Arosa"), A 65%-OWNED INDIRECT SUBSIDIARY COMPANY OF ASB HELD VIA HOLIDAY VILLA ASSETS SDN BHD ("HVA"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY HELD VIA ALANGKA-SUKA HOTELS & RESORTS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF ASB

The Board of Directors of ASB wishes to announce that PGL  had on 21 December 2018 entered into a Share Sale Agreement (“SSA”) to acquire 100% equity interest (represented by 1,100 ordinary shares of £1.00 each) (“Purchase Shares”) in Beaver Hotels Limited (“Beaver”) from the existing shareholders of Beaver,  Mr Jan Joseph Lis, Mr Alexander Lis  and Mr Aurelian Jan Alexander Lis,  (“Vendor”), for a cash consideration of GBP10.25 million (equivalent to approximately RM55.63 million)(“Purchase Price”)(hereinafter referred to as “Proposed Acquisition”).

 

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

 

This announcement is dated 21 December 2018.


Please refer attachment below.

Attachments

ASB-announcement-21122018.pdf
566.8 kB


Announcement Info

Company Name ADVANCE SYNERGY BERHAD
Stock Name ASB
Date Announced 21 Dec 2018
Category General Announcement for PLC
Reference Number GA1-21122018-00128


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