General Announcement for PLC
07/11/2016TRANSACTIONS (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").
Amended Announcements
Please refer to the earlier announcement reference number: GA1-02112016-00066
| 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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Unless otherwise stated, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcement dated 2 November 2016 in relation to the Proposed Acquisitions (“Announcement”). On behalf of the Company, TA Securities wishes to provide further information on Surfstek R&D as set out in Section 7.2 of the Announcement. In addition to the three (3) areas of businesses of Surfstek R&D, the company is also involved in point of sales (POS) solution and support and maintenance. It distributes POS solutions and components under the POSMAC brand name to the local Malaysian market and exports ICT products (such as personal computers) to markets including Indonesia and Singapore. As part of its online hotel reservation services, Surfstek R&D designs, develops and provides licenses for the use of SurfsTek GlobaLinQ System (“SGLS”), a web-based software system devoted to the e-Traveling business. SGLS comprises SurfsTek Online Distribution Database (SODD) a hotel distribution database which is connected with 300,000 hotels worldwide, and RoamSurfs, a free-of-charge international mobile roaming system. With the aforesaid license, customers of Surfstek R&D are able to utilise the SGLS system in their respective countries. This system is being utilised by Surfstek R&D’s customers in Cambodia, China, France, Germany, Hong Kong, Indonesia, Italy, Switzerland, Spain, Taiwan, Thailand, The Netherlands, and Vietnam. This announcement is dated 7 November 2016. |
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Announcement Info
| Company Name | TECHNODEX BHD |
| Stock Name | TDEX |
| Date Announced | 07 Nov 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-07112016-00050 |