TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION OF THE REMAINING 30% EQUITY INTEREST IN PARAMOUNT BOUNTY SDN BHD
|MERCURY INDUSTRIES BERHAD|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
PROPOSED ACQUISITION OF THE REMAINING 30% EQUITY INTEREST IN PARAMOUNT BOUNTY SDN BHD
The Board of Directors of Mercury Industries Berhad (“MIB” or “the Company”) wishes to announce that the Company had on 7 December 2018 entered into a share sale agreement ("SSA") with Chow Kit Loong to acquire the remaining 30% of the issued share capital of Paramount Bounty Sdn Bhd (“PBSB”), comprising 300,000 ordinary shares, for a cash consideration of RM17,100,000.00, subject to the terms and conditions in the SSA (“Proposed Acquisition”).
Upon completion of the Proposed Acquisition, PBSB will become a wholly-owned subsidiary of MIB.
Please refer to the attachment for further details on the Proposed Acquisition.
This announcement is dated 7 December 2018.
Please refer attachment below.
|Company Name||MERCURY INDUSTRIES BERHAD|
|Date Announced||07 Dec 2018|
|Category||General Announcement for PLC|