General Announcement for PLC

09/08/2022

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN PALM SHORE HOLDINGS SDN BHD ("PSHSB") BY WIDAD CAPITAL SDN BHD ("WCSB"), A WHOLLY OWNED SUBSIDIARY OF WIDAD FROM NAWAWI BIN TAMBY ("NBT") AND MOHD GHAUTH BIN MOHD YUSOFF ("MGY") ("VENDORS") (INCLUDING REPAYMENT OF VENDORS ADVANCES) FOR A TOTAL CONSIDERATION OF RM35.00 MILLION TO BE SATISFIED IN CASH ("PROPOSED ACQUISITION")

WIDAD GROUP BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY")

PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN PALM SHORE HOLDINGS SDN BHD ("PSHSB") BY WIDAD CAPITAL SDN BHD ("WCSB"), A WHOLLY OWNED SUBSIDIARY OF WIDAD FROM NAWAWI BIN TAMBY ("NBT") AND MOHD GHAUTH BIN MOHD YUSOFF ("MGY") ("VENDORS") (INCLUDING REPAYMENT OF VENDORS ADVANCES) FOR A TOTAL CONSIDERATION OF RM35.00 MILLION TO BE SATISFIED IN CASH ("PROPOSED ACQUISITION")

(Unless otherwise stated, all abbreviations used herein shall have the same meanings as those stated in the announcement dated 13 May 2022 and 19 May 2022 (“Announcements”)).

 

We refer to the Company's announcements in relation to the Proposed Acquisition. In this respect, the Conditions Precedent of the SSA are to be fulfilled within 90 days after the date of the SSA or such other period to be mutually agreed upon by the parties to the SSA.

 

On behalf of the Company, M&A Securities Sdn Bhd wishes to announce that the parties to the SSA have mutually agreed to extend the period for 60 days from 13 August 2022 (i.e. up to 13 October 2022) to fulfil the Conditions Precedent.

 

Save as disclosed above, there are no other variations to the terms and conditions of the SSA.

 

This announcement is dated 9 August 2022.



Announcement Info

Company Name WIDAD GROUP BERHAD
Stock Name WIDAD
Date Announced 09 Aug 2022
Category General Announcement for PLC
Reference Number GA1-09082022-00061


Related Announcements for WIDAD
Date Title
16/08/2022 NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT
15/08/2022 NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT
03/08/2022 NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT
21/07/2022 NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT OF UP TO 259,250,000 NEW ORDINARY SHARES IN WIDAD
19/05/2022 WIDAD GROUP BERHAD ("WIDAD") PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN PALM SHORE HOLDINGS SDN BHD ("PSHSB") BY WIDAD CAPITAL SDN BHD ("WCSB"), A WHOLLY OWNED SUBSIDIARY OF WIDAD (INCLUDING REPAYMENT OF VENDORS ADVANCES) FOR A TOTAL CONSIDERATION OF RM35.00 MILLION TO BE SATISFIED IN CASH ("PROPOSED ACQUISITION")
13/05/2022 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN PALM SHORE HOLDINGS SDN BHD ("PSHSB") BY WIDAD CAPITAL SDN BHD ("WCSB"), A WHOLLY OWNED SUBSIDIARY OF WIDAD FROM NAWAWI BIN TAMBY ("NBT") AND MOHD GHAUTH BIN MOHD YUSOFF ("MGY") ("VENDORS") (INCLUDING REPAYMENT OF VENDORS ADVANCES) FOR A TOTAL CONSIDERATION OF RM35.00 MILLION TO BE SATISFIED IN CASH ("PROPOSED ACQUISITION")
28/04/2022 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") EXTENSION OF HEADS OF AGREEMENT ("HOA") OF WIDAD CAPITAL SDN BHD ("WCSB"), A WHOLLY OWNED SUB-SUBSIDIARY OF WIDAD, WITH PALM SHORE HOLDINGS SDN BHD ("PSHSB"), NAWAWI BIN TAMBY ("NBT") AND MOHD GHAUTH BIN MOHD YUSOFF ("MGY") IN RESPECT OF THE PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN PSHSB
21/04/2022 OTHERS PROPOSED RENEWAL OF SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE
13/04/2022 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") EXTENSION OF HEADS OF AGREEMENT ("HOA") OF WIDAD CAPITAL SDN BHD ("WCSB"), A WHOLLY OWNED SUB-SUBSIDIARY OF WIDAD, WITH PALM SHORE HOLDINGS SDN BHD ("PSHSB"), NAWAWI BIN TAMBY ("NBT") AND MOHD GHAUTH BIN MOHD YUSOFF ("MGY") IN RESPECT OF THE PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN PSHSB
28/03/2022 OTHERS WIDAD GROUP BERHAD ("WIDAD" OR "COMPANY") EXPIRY OF MEMORANDUM OF COLLABORATION BETWEEN WIDAD AND RINANI DYNAMIC SDN. BHD. IN RELATION TO THE DISTRIBUTION, MARKETING AND SALE OF ORAL TABLET CORONA VIRUS DISEASE 2019 (COVID-19) VACCINE KNOWN AS VXA-Cov2-1 DEVELOPED BY VAXART, INC AND OTHER VAXART, INC.'S PRODUCTS