General Announcement for PLC
12/01/2021TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SUNZEN BIOTECH BERHAD ("SUNZEN" OR THE "COMPANY") (I) PROPOSED ACQUISITION; AND (II) PROPOSED DIVERSIFICATION
| SUNZEN BIOTECH BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | SUNZEN BIOTECH BERHAD ("SUNZEN" OR THE "COMPANY")
(I) PROPOSED ACQUISITION; AND
(II) PROPOSED DIVERSIFICATION |
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On behalf of the board of directors of SUNZEN, M&A Securities Sdn Bhd wishes to announce that on 12 January 2021, SUNZEN had entered into a conditional share sale agreement with Teo Yek Ming, Ching Chee Pun, Lee Ching Yong and Low Chee Yeap (collectively, the “Vendors”) for the proposed acquisition of 100% of the issued share capital in FSSB, for a purchase price of RM6,800,000 (“Proposed Acquisition”) to be satisfied by the allotment and issuance of 41,212,121 new ordinary shares in SUNZEN (“SUNZEN Shares”) at an issue price of RM0.165 per SUNZEN Share.
In conjunction with the Proposed Acquisition, the Company intends to undertake the proposed diversification of the business activities of SUNZEN and its subsidiaries to include money lending (“Proposed Diversification”).
(The Proposed Acquisition and Proposed Diversification are collectively referred to as the “Proposals”).
Kindly refer to the attachment on further details of the Proposals.
This announcement is dated 12 January 2021. |
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Please refer attachment below.
Attachments
120121 - Acqusition announcement.pdf
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Announcement Info
| Company Name | SUNZEN BIOTECH BERHAD |
| Stock Name | SUNZEN |
| Date Announced | 12 Jan 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-12012021-00104 |