On behalf of the Board of Directors of TDEX, TA Securities Holdings Berhad is pleased to announce that the Company proposes to undertake the following corporate exercises-
(a) proposed private placement of up to ten percent (10%) of the issued and paid-up share capital of the Company to investor(s) to be identified later (Proposed Private Placement); and
(b) proposed acquisition and subscription by TDEX of a total of 275,000 ordinary shares of RM1.00 each in Idealseed Resources Sdn Bhd (Idealseed) (Idealseed Shares) representing 55% of the enlarged issued and paid-up share capital of Idealseed for a total cash consideration of RM2,200,000 via the following:-
(i) a conditional Agreement for Sale and Purchase of Shares dated 17 October 2014 entered into between TDEX as purchaser and Tan Wah Choy as vendor (Vendor) for the proposed acquisition of 125,000 Idealseed Shares at a purchase price of RM1,000,000, representing RM8.00 per Idealseed Share from the Vendor; and
(ii) a conditional Subscription Agreement dated 17 October 2014 entered into between TDEX as subscriber, Idealseed as issuer and the Vendor for the proposed subscription by TDEX of 150,000 new Idealseed Shares at a subscription price of RM1,200,000, representing RM8.00 per Subscription Share;
(hereinafter referred to as the Proposed Acquisition).
The Proposed Private Placement and Proposed Acquisition shall hereinafter collectively referred to as the Proposals.
Please refer to the attachment for further information on the Proposals.
This announcement is dated 17 October 2014.