General Announcement for PLC
02/11/2016TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS TECHNODEX BERHAD ("TDEX" OR THE "COMPANY") (I) PROPOSED ACQUISITION OF AN ADDITIONAL 42% EQUITY INTEREST BY TDEX IN IDEALSEED RESOURCES SDN BHD ("IDEALSEED") FOR A PURCHASE CONSIDERATION OF RM2,677,500 ("PROPOSED ACQUISITION I"); AND (II) PROPOSED ACQUISITION OF THE REMAINING 50% EQUITY INTEREST IN SURFSTEK RESOURCES (R&D) SDN BHD ("SURFSTEK R&D") BY TDEX FOR A PURCHASE CONSIDERATION OF RM13,455,000 ("PROPOSED ACQUISITION II") (COLLECTIVELY REFERRED TO AS THE "PROPOSED ACQUISITIONS").
| TECHNODEX BHD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | TECHNODEX BERHAD ("TDEX" OR THE "COMPANY")
(I) PROPOSED ACQUISITION OF AN ADDITIONAL 42% EQUITY INTEREST BY TDEX IN IDEALSEED RESOURCES SDN BHD ("IDEALSEED") FOR A PURCHASE CONSIDERATION OF RM2,677,500 ("PROPOSED ACQUISITION I"); AND
(II) PROPOSED ACQUISITION OF THE REMAINING 50% EQUITY INTEREST IN SURFSTEK RESOURCES (R&D) SDN BHD ("SURFSTEK R&D") BY TDEX FOR A PURCHASE CONSIDERATION OF RM13,455,000 ("PROPOSED ACQUISITION II")
(COLLECTIVELY REFERRED TO AS THE "PROPOSED ACQUISITIONS"). |
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On behalf of the Board of Directors of TDEX ("Board"), TA Securities Holdings Berhad ("TA Securities") wishes to announce that the Company had on 2 November 2016 entered into the following: - (a) a sale and purchase of shares agreement with Tan Wah Choy (“TWC”) and Wong Siam Hong (“WSH”) (collectively, “Idealseed Vendors”) for the acquisition of an additional 210,000 ordinary shares of RM1.00 each in Idealseed ("Idealseed Shares") from the Idealseed Vendors, representing 42% of the total issued and paid-up share capital in Idealseed for a purchase consideration of RM2,677,500 (“Purchase Consideration I”) (“Idealseed SPA”); and (b) a sale and purchase of shares agreement with SurfsTek Resources (M) Sdn Bhd (“SurfsTek”) for the acquisition of the remaining 1,500,000 ordinary shares of RM1.00 each in SurfsTek R&D ("SurfsTek R&D Shares"), representing 50% of the total issued and paid-up share capital in SurfsTek R&D for a purchase consideration of RM13,455,000 (“Purchase Consideration II”) (“SurfsTek SPA”). Please refer to the attachment for further information on the Proposed Acquisitions. This announcement is dated 2 November 2016. |
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Please refer attachment below.
Attachments
FINAL TDEX_Announcement P.Acquisitions (2.11.2016).pdf
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Announcement Info
| Company Name | TECHNODEX BHD |
| Stock Name | TDEX |
| Date Announced | 02 Nov 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-02112016-00066 |