The Board of Directors of SEB wishes to announce that SEB had on 03 May 2012 entered into the following agreements: -
(1) Sale and Purchase Agreement with NG KWOK SIONG for the sale and purchase of 450,000 ordinary shares of RM 1.00 each in Selekta for a total purchase consideration of RM7,180,000.00;
(2) Subscription and Shareholders Agreement with NG KWOK SIONG, LOO SAY HOCK and RAGUNATHAN A/L PALANISAMY in which SEB shall subscribe for a total of 1,320,000 ordinary shares of RM 1.00 each in Selekta at par for RM 1,320,000 and to govern the rights and obligations of the respective shareholders of Selekta;
(3) Put Option Agreement with NG KWOK SIONG in which NG KWOK SIONG shall grant SEB a put option to sell all the shares already held by SEB to NG KWOK SIONG upon the occurrence of trigger events.
Please refer to the attached file for full text of the announcement.
This announcement is dated 03 May 2012.