General Announcement for PLC

18/08/2022

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PMB TECHNOLOGY BERHAD ("PMBT" OR "THE COMPANY") ADDITIONAL INFORMATION ON ANNOUNCEMENT PERTAINING TO PROPOSED DISPOSAL OF ALL THAT PIECE OF FREEHOLD LAND HELD UNDER GERAN MUKIM 9211, LOT 103878, MUKIM PETALING, DAERAH KUALA LUMPUR, NEGERI WILAYAH PERSEKUTUAN KUALA LUMPUR MEASURING APPROXIMATELY 6,658 SQUARE METRES IN AREA BY PMB LAND (SG. BESI) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY

PMB TECHNOLOGY BERHAD

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

ADDITIONAL INFORMATION ON ANNOUNCEMENT PERTAINING TO PROPOSED DISPOSAL OF ALL THAT PIECE OF FREEHOLD LAND HELD UNDER GERAN MUKIM 9211, LOT 103878, MUKIM PETALING, DAERAH KUALA LUMPUR, NEGERI WILAYAH PERSEKUTUAN KUALA LUMPUR MEASURING APPROXIMATELY 6,658 SQUARE METRES IN AREA BY PMB LAND (SG. BESI) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY

“Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as defined in the Company’s announcement dated 17 August 2022 except where the context otherwise defined herein”

 

Further to the announcement on 17 August 2022 pertaining to the Proposed Disposal, the Board of Directors of PMBT wishes to furnish the following additional information pertaining to the Proposed Disposal:- 

 

PROPOSED UTILISATION OF PROCEEDS FROM THE PROPOSED DISPOSAL

 

The proposed utilisation of proceeds RM37,000,000.00 arising from the Proposed Disposal is breakdown as below:-

 

Description of utilisation of proceeds

Estimated timeframe for use from receipt of proceeds^

Amount

(RM’000)

Settlement of Bridging Loan*

Within 6 months

    21,000

Group’s working capital

  • Payment to Suppliers
  • Day to day operating expenses

Within 12 months

   

    10,000

      4,450

Estimated expenses in relation to the Proposed Disposal

(including the Bridging Loan interest)

Within 12 months

      1,550

Total

 

    37,000

 

Notes:-

^ From the date of receipt of the Balance Deposit on 17 August 2022.

* Upon disposal of the Subject Land, PMB Land has to make the full settlement of the outstanding sum of the Bridging Loan, which was granted to finance the acquisition of the Subject Land earlier.

 

This announcement is dated 18 August 2022.

 

 

 



Announcement Info

Company Name PMB TECHNOLOGY BERHAD
Stock Name PMBTECH
Date Announced 18 Aug 2022
Category General Announcement for PLC
Reference Number GA1-18082022-00032


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