General Announcement for PLC

26/02/2020

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WIDAD GROUP BERHAD ("WIDAD" OR "COMPANY") (I) PROPOSED ACQUISITION OF 90% EQUITY INTEREST IN SERENDAH HEIGHTS SDN BHD ("SHSB") BY WIDAD FROM PRIHATIN EHSAN HOLDINGS SDN BHD ("PEHSB") AND TRAINING CAMP AABATA SDN BHD ("TCASB") ("PROPOSED ACQUISITION 1"); AND (II) PROPOSED ACQUISITION OF 10% EQUITY INTEREST IN SHSB BY WIDAD FROM JUST WISDOM SDN BHD ("PROPOSED ACQUISITION 2") (COLLECTIVELY, THE "PROPOSED ACQUSITIONS")

WIDAD GROUP BERHAD

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

(I) PROPOSED ACQUISITION OF 90% EQUITY INTEREST IN SERENDAH HEIGHTS SDN BHD ("SHSB") BY WIDAD FROM PRIHATIN EHSAN HOLDINGS SDN BHD ("PEHSB") AND TRAINING CAMP AABATA SDN BHD ("TCASB") ("PROPOSED ACQUISITION 1"); AND

(II) PROPOSED ACQUISITION OF 10% EQUITY INTEREST IN SHSB BY WIDAD FROM JUST WISDOM SDN BHD ("PROPOSED ACQUISITION 2")

(COLLECTIVELY, THE "PROPOSED ACQUSITIONS")

Unless otherwise redefined, the definitions set out in the earlier announcements in relation to the Proposed Acquisitions shall apply in this announcement.

 

Pursuant to the terms of SSA 1, the final issue price for the Consideration Shares shall be determined based on the 5D-VWAMP from 19 February 2020 to 25 February 2020 and subject to a discount of 10%.

 

On behalf of the Company, M&A Securities Sdn Bhd wishes to announce that the final issue price for the Consideration Shares has been fixed at RM0.4765 per Consideration Share.

The issue price for the Consideration Shares represents a discount of 10.0% from the 5D-VWAMP of Widad up to 25 February 2020 of RM0.5294.

 

Based on the above, the share consideration for SSA 1 of RM11,462,315 will be satisfied via the issuance of 24,055,226 Consideration Shares.

 

 

This announcement is dated 26 February 2020.



Announcement Info

Company Name WIDAD GROUP BERHAD
Stock Name WIDAD
Date Announced 26 Feb 2020
Category General Announcement for PLC
Reference Number GA1-25022020-00177


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