General Announcement for PLC

20/05/2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") - PROPOSED ACQUISITION BY POWERWELL INTERNATIONAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF A PROPERTY FOR A TOTAL CASH CONSIDERATION OF RM11,500,000.00 ("PROPOSED ACQUISITION")

POWERWELL HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY")
- PROPOSED ACQUISITION BY POWERWELL INTERNATIONAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF A PROPERTY FOR A TOTAL CASH CONSIDERATION OF RM11,500,000.00 ("PROPOSED ACQUISITION")

The Board of Directors of Powerwell Holdings Berhad is pleased to announce that its wholly-owned subsidiary, Powerwell International Sdn Bhd [Registration No. 200101018483 (554240-T)], has on 20 May 2021 entered into a sale and purchase agreement (“SPA”) with Generasi Nirwana (Milling) Sdn Bhd [Registration No. 199701002999 (418495-T)] (In Liquidation) to acquire a  three (3) storey office block cum single storey factory building and a guard house erected on individual title held under Geran 99147, Lot 69245, Mukim Klang, Daerah Klang, Negeri Selangor measuring 3,950 square metres in area and bearing the postal address of No. 4, Jalan Anggerik Mokara 31/44, Kota Kemuning, Section 31, 40460 Shah Alam, Selangor Darul Ehsan, for a total cash consideration of RM11,500,000.00, subject to the terms and conditions in the SPA (“Proposed Acquisition”).

 

Please refer to the attachment for further details on the Proposed Acquisition.

 

This announcement is dated 20 May 2021.


Please refer attachment below.


Announcement Info

Company Name POWERWELL HOLDINGS BERHAD
Stock Name PWRWELL
Date Announced 20 May 2021
Category General Announcement for PLC
Reference Number GA1-17052021-00007


Related Announcements for PWRWELL
Date Title
04/08/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "THE COMPANY") PROPOSED VARIATION AND EXTENSION OF TIMEFRAME OF THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING ("IPO") OF POWERWELL
14/06/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "THE COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO RM94,116,600.00
30/05/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "COMPANY") VARIATION AND EXTENSION OF TIMEFRAME OF THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING
16/03/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO RM39,871,820.00
14/03/2022 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO RM39,871,820.00
22/07/2021 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") - PROPOSED ACQUISITION BY POWERWELL INTERNATIONAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY OF A PROPERTY FOR A TOTAL CASH CONSIDERATION OF RM11,500,000.00 ("PROPOSED ACQUISITION")
13/07/2021 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO RM9,588,675.00
14/06/2021 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ACCEPTANCE OF SUPPLY CONTRACT AMOUNTING TO USD2.135 MILLION
25/05/2021 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") - PROPOSED ACQUISITION BY POWERWELL INTERNATIONAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY OF A PROPERTY FOR A TOTAL CASH CONSIDERATION OF RM11,500,000.00 ("PROPOSED ACQUISITION") - ADDITIONAL INFORMATION
24/05/2021 OTHERS POWERWELL HOLDINGS BERHAD ("POWERWELL" OR "COMPANY") EXTENSION OF TIME FOR THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING ("IPO")