General Announcement for PLC

26/08/2022

OTHERS EP MANUFACTURING BHD ("EPMB" OR "THE COMPANY") Status update on the Memorandum of Agreement between EPMB, CIS Pride Silver Rock Fund ("CIS") and Sharkgulf Technologies Group Limited ("Sharkgulf")

EP MANUFACTURING BHD

Type Announcement
Subject OTHERS
Description 
EP MANUFACTURING BHD ("EPMB" OR "THE COMPANY")
Status update on the Memorandum of Agreement between EPMB, CIS Pride Silver Rock Fund ("CIS") and Sharkgulf Technologies Group Limited ("Sharkgulf")

Reference is made to the Company's earlier announcement dated 8 March 2022 and 31 May 2022 in respect of the Memorandum of Agreement between the Company, CIS Pride Silver Rock Fund ("CIS") and Sharkgulf Technologies Group Limited ("Sharkgulf") (collectively referred to as “Announcements”). Unless otherwise stated, the abbreviations and definitions used in this announcement shall have the same meaning as defined in the Announcements.   

 

The Board of Directors of the Company wishes to announce that EP Blueshark Sdn Bhd (“EP Blueshark”), an ultimate wholly-owned subsidiary of EPMB, had on 25 July 2022 received conditional approval from the Ministry of International Trade and Industry on EP Blueshark’s application dated 4 July 2022 for assembly of electric bike under the Industrial Co-ordination Act 1975 [Act 156] subject to the conditions to be fulfilled by EP Blueshark within six (6) months from the Letter of Approval (“Conditional Approval”).

 

The Conditional Approval allows EP Blueshark to establish Manufacturing Plant and Sales and Distribution Centre to assemble, manufacture and distribute 2-wheel EVs and other related products in Malaysia. This endeavour will create a new chapter to EPMB to diversify complementing its present business.

 

The Conditional Approval will not have any material effect on the earnings per share and net assets per share of the Company and its subsidiaries for the financial year ending 31 December 2022. The Conditional Approval will not have any effect on the share capital, gearing and substantial shareholders’ shareholdings of the Company.

 

None of the Directors and/ or major shareholders of EPMB and/ or persons connected with them have any interest, direct or indirect, in the Conditional Approval.

 

This announcement is dated 26 August 2022

 



Announcement Info

Company Name EP MANUFACTURING BHD
Stock Name EPMB
Date Announced 26 Aug 2022
Category General Announcement for PLC
Reference Number GA1-15082022-00019


Related Announcements for EPMB
Date Title
26/08/2022 MEMORANDUM OF UNDERSTANDING EP MANUFACTURING BHD ("EPMB" OR "THE COMPANY") Status update on the Memorandum of Understanding between EPMB and Malaysia Automotive Robotics and IoT Institute ("MARii")
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22/04/2022 MULTIPLE PROPOSALS EP MANUFACTURING BHD ("EPM" OR THE "COMPANY") (I) PROPOSED DISPOSAL AND LEASEBACK; (II) PROPOSED PRIVATE PLACEMENT; (III) PROPOSED ESOS; AND (IV) PROPOSED DIVERSIFICATION (COLLECTIVELY, THE "PROPOSALS")
31/03/2022 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS EP MANUFACTURING BHD ("EPM" OR "THE COMPANY") PROPOSED ACQUISITION BY EPM OF 5,000,000 ORDINARY SHARES IN KENSINGTON DEVELOPMENT SDN. BHD. ("KENSINGTON DEVELOPMENT"), REPRESENTING THE ENTIRE EQUITY INTEREST IN KENSINGTON DEVELOPMENT, FROM BESTEMPIRE LIMITED ("BESTEMPIRE" OR "VENDOR") FOR A CASH CONSIDERATION OF RM45.6 MILLION ("PROPOSED ACQUISITION")
30/03/2022 MULTIPLE PROPOSALS EP MANUFACTURING BHD ("EPMB") OR ("THE COMPANY") 1) PROPOSED RENEWAL OF AUTHORITY FOR THE COMPANY TO PURCHASE ITS OWN SHARES 2) PROPOSED RENEWAL OF SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE
03/03/2022 MULTIPLE PROPOSALS EP MANUFACTURING BHD ("EPM" or "COMPANY") (I) PROPOSED DISPOSAL AND LEASEBACK; (II) PROPOSED PRIVATE PLACEMENT; (III) PROPOSED ESOS; AND (IV) PROPOSED DIVERSIFICATION (COLLECTIVELY, THE "PROPOSALS")