TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS M3 TECHNOLOGIES (ASIA) BERHAD ("M3" OR "THE COMPANY") SETTLEMENT AGREEMENT ("SA") ON PROFIT GUARANTEE PAYMENT AND DISPOSAL OF 23.993% EQUITY INTEREST IN FOTOKEM SDN BHD ("FOTOKEM") BY M3 FOR A TOTAL CASH CONSIDERATION OF RM5,998,438 ("PROPOSED SETTLEMENT")

M3 TECHNOLOGIES (ASIA) BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
M3 TECHNOLOGIES (ASIA) BERHAD ("M3" OR "THE COMPANY")

SETTLEMENT AGREEMENT ("SA") ON PROFIT GUARANTEE PAYMENT AND DISPOSAL OF 23.993% EQUITY INTEREST IN FOTOKEM SDN BHD ("FOTOKEM") BY M3 FOR A TOTAL CASH CONSIDERATION OF RM5,998,438 ("PROPOSED SETTLEMENT")

(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the announcements in relation to the Proposed Settlement dated 7 June 2016 and 13 June 2016).

 

Further to our announcements dated 7 June 2016 and 13 June 2016 in relation to the Proposed Settlement, the Company wishes to announce that the balance of the Settlement Sum of Ringgit Malaysia Four Million Nine Hundred Ninety-Eight Thousand Four Hundred and Thirty-Eight (RM4,998,438.00) had been duly received by the Company on 8 September 2016.

 

In this regard, the Proposed Settlement is deemed completed on the same date.

 

This announcement is dated 8 September 2016.






Announcement Info

Company Name M3 TECHNOLOGIES (ASIA) BERHAD
Stock Name M3TECH
Date Announced 08 Sep 2016
Category General Announcement for PLC
Reference Number GA1-06092016-00041