General Announcement for PLC
09/11/2017TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS BCM ALLIANCE BERHAD ("BCM" OR "THE COMPANY") PROPOSED SUBSCRIPTION OF 2,100,000 NEW ORDINARY SHARES IN CYPRESS MEDIC SDN BHD REPRESENTING 51.03% OF THE ENLARGED SHARE CAPITAL OF CYPRESS MEDIC SDN BHD FOR A CASH CONSIDERATION OF RM1,722,000 ("PROPOSED SUBSCRIPTION")
BCM ALLIANCE BERHAD |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
Description | BCM ALLIANCE BERHAD ("BCM" OR "THE COMPANY") PROPOSED SUBSCRIPTION OF 2,100,000 NEW ORDINARY SHARES IN CYPRESS MEDIC SDN BHD REPRESENTING 51.03% OF THE ENLARGED SHARE CAPITAL OF CYPRESS MEDIC SDN BHD FOR A CASH CONSIDERATION OF RM1,722,000 ("PROPOSED SUBSCRIPTION") |
The Board of Directors of BCM is pleased to announce that the Company proposes to undertake the Proposed Subscription, and pursuant thereto, had on 9 November 2017 entered into the following agreements: (a) a conditional share subscription agreement with Cypress Medic Sdn Bhd (“Cypress”) and Law Soo Chin, Koh Lap Hing, Liaw Chong Lin, Hew Chun Shun, Chung Eng Lam, Kew Kin Chee and Chong Wai Mun (collectively, the “Existing Cypress Shareholder) to subscribe for 2,100,000 new ordinary shares in Cypress for a total cash consideration of RM1,722,000; (b) profit guarantee agreement with the Existing Cypress Shareholders in relation to the guarantee of a profit after taxation of at least RM600,000 to be achieved by Cypress for the financial year ending 31 December 2018; and (c) shareholders’ agreement with the Existing Cypress Shareholders and Cypress to regulate the conduct of the business and organisation of Cypress as well as the rights and obligations as shareholders of Cypress. Please refer to the attachment for further details of the Proposed Subscription. This announcement is dated 9 November 2017. |
Please refer attachment below.
Attachments |
Announcement Info
Company Name | BCM ALLIANCE BERHAD |
Stock Name | BCMALL |
Date Announced | 09 Nov 2017 |
Category | General Announcement for PLC |
Reference Number | GA1-09112017-00072 |