General Announcement for PLC

01/03/2022

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") PROPOSED DISPOSAL OF THE ENTIRE ISSUED SHARE CAPITAL OF LEN CHEONG RESOURCES SDN. BHD. ("LCR") FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM1.29 MILLION ("PROPOSED DISPOSAL")

SAND NISKO CAPITAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description 
SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY")

PROPOSED DISPOSAL OF THE ENTIRE ISSUED SHARE CAPITAL OF LEN CHEONG RESOURCES SDN. BHD. ("LCR") FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM1.29 MILLION ("PROPOSED DISPOSAL")

The Board of Directors of SNC wishes to announce that the Company will undertake the disposal of 100% equity interests of LCR to Dato’ Sri (Dr) Sow Chin Chuan (“Dato’ Sri Sow”) and Datin’ Sri Chu Kim Guek (“Datin’ Sri Chu”) for a total cash consideration of RM1,294,039 (“Disposal Consideration”).

 

The Disposal Consideration has been paid in full upon execution of the relevant transfer documents between SNC and Dato’ Sri Sow and Datin Sri Chu on 1 March 2022.

 

The Proposed Disposal is deemed a related party transaction pursuant to Paragraph 10.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“MMLR”) by virtue of the interests of Dato’ Sri Sow and Datin’ Sri Chu (“Interested Parties”). 

 

Please refer to the attached document for further details. 

 

This announcement is dated 1 March 2022. 

 

 


Please refer attachment below.

Attachments

Disposal of LCR.pdf
163.5 kB


Announcement Info

Company Name SAND NISKO CAPITAL BERHAD
Stock Name SNC
Date Announced 01 Mar 2022
Category General Announcement for PLC
Reference Number GA1-01032022-00094


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