Board of Directors of M3Tech (“Board”) wishes to announce that the Company had on 4 March 2013 offered
to acquire 383,900 ordinary shares of RM1.00 each in Fotokem (“Sale Shares”), representing 23.993%
equity interest in Fotokem from Ngui Woon Kong and Wong Lim Patt @ Wong Lim
Fatt (collectively referred to as the “Vendors”)
for a total cash consideration of RM5,998,438, subject to the following:
outcome of the financial, tax and legal due diligence of the Fotokem and its
subsidiary companies (“Fotokem Group”);
and conditions in the shares sale agreement (“SSA”), shareholders agreement and profit guarantee agreement
(collectively referred to as the “Agreements”)
to be negotiated between M3Tech and the Vendors.
Vendors have acknowledged and accepted the abovementioned offer by M3Tech on 4
the satisfaction of the above conditions, M3Tech will enter into a definitive
SSA, shareholders agreement and profit guarantee agreement with the Vendors. An announcement will be made
accordingly to comply with Chapter 10 of the ACE Market Listing Requirements of
Bursa Malaysia Securities Berhad upon the execution of the Agreements.
principally involved in the trading in photographic, digital, electronic,
information and communication technologies goods and services. Its subsidiary
companies are principally involved in the retail business for consumer
This announcement is
dated 4 March 2013.