General Announcement for PLC
15/07/2022MULTIPLE PROPOSALS ARTRONIQ BERHAD ("ARTRONIQ" OR THE "COMPANY") (I) PROPOSED ACQUISITION; AND (II) PROPOSED DIVERSIFICATION (COLLECTIVELY, REFERRED TO AS THE "PROPOSALS")
| ARTRONIQ BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | ARTRONIQ BERHAD ("ARTRONIQ" OR THE "COMPANY")
(I) PROPOSED ACQUISITION; AND
(II) PROPOSED DIVERSIFICATION
(COLLECTIVELY, REFERRED TO AS THE "PROPOSALS") |
|
On behalf of the Board of Directors of the Company (“Board”), Malacca Securities Sdn. Bhd. (“Malacca Securities”) wishes to announce the following:
(i) Artroniq (“Purchaser”) had on 15 July 2022 entered into a conditional sale and purchase agreement (“CSPA”) with Teoh Boon Thiam (“TBT” or “Vendor”), to acquire 156,000 ordinary shares in Fujim Digital Sdn. Bhd. (“FDSB”) (“FDSB Shares”) (“Sale Shares”), representing 60.0% equity interest in FDSB, for a purchase consideration of RM12.0 million (“Purchase Consideration”) which will be satisfied via a cash consideration of RM6.0 million and RM6.0 million will be satisfied via issuance of new ordinary shares in Artroniq (“Artroniq Shares” or “Shares”) (“Consideration Shares”), subject to the terms and conditions of the CSPA (“Proposed Acquisition”); and
(ii) that the Company proposes to undertake the proposed diversification of the existing principal activities of Artroniq and its subsidiaries (“Artroniq Group” or “Group”) to include precision engineering, in conjunction with the Proposed Acquisition.
Further details of the Proposals are set out in the attachment below.
This announcement is dated 15 July 2022. |
|
Please refer attachment below.
Attachments |
Announcement Info
| Company Name | ARTRONIQ BERHAD |
| Stock Name | ARTRONIQ |
| Date Announced | 15 Jul 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-15072022-00001 |