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

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
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.

Attachments

Acquisition.pdf
178.3 kB



Announcement Info

Company Name MERCURY INDUSTRIES BERHAD
Stock Name MERCURY
Date Announced 07 Dec 2018
Category General Announcement for PLC
Reference Number GA1-07122018-00030