We refer to our announcement dated 4 March 2013 in relation to the Proposed Acquisition.
The Board of Directors of M3Tech (“Board”) wishes to announce that the Company had on 15 June 2013 completed the financial, tax and legal due diligence of Fotokem and its subsidiary companies (“Fotokem Group”) and is satisfied with the outcome of the due diligence exercise. Following this, the Company had on 22 November 2013 entered into:
(a) a conditional share sale agreement (“SSA”) with Wong Lim Patt @ Wong Lim Fatt and Ngui Woon Kong (collectively referred to as the “Vendors”) in relation to the Proposed Acquisition, subject to the fulfilment of the terms and conditions as stipulated in the SSA;
(b) a shareholders agreement with Ngui Woon Kong, Thean Yoke Peng, Shum Hok Yein and Khoo Chee Kuen (collectively referred to as the “Parties”) based on the terms and conditions as stipulated therein; and
(c) a profit guarantee agreement with Ngui Woon Kong based on the terms and conditions as stipulated therein.
Further details of the Proposed Acquisition are set out in the attachment.
This announcement is dated 22 November 2013.
Announcement - Fotokem Final.pdf284 KB