TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS HANDAL RESOURCES BERHAD - DISPOSAL OF HANDAL SIMFLEXI SDN BHD

HANDAL RESOURCES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
HANDAL RESOURCES BERHAD  
- DISPOSAL OF HANDAL SIMFLEXI SDN BHD

The Board of Directors of Handal Resources Berhad (“Handal” or the “Company”) wishes to announce that the Company had on 10 April 2019, entered into the following agreements:-

 

i) Share sale agreement between Shanghai EB Pipeline Engineering Ltd (“SHEB”) and Handal (“SSA”); and

 

ii) Novation agreement entered between SHEB, Kemuncak Lanai Sdn Bhd (“Kemuncak”) and Handal (“Novation Agreement”). 

 

(collectively referred to as “Agreements”)

 

for the disposal of 765,000 ordinary shares in Handal Simflexi Sdn. Bhd. (formerly known as Simflexi Sdn. Bhd.) (“HSSB”), representing 51% of the total issued share capital of HSSB (“Sale Shares”), to SHEB for a total consideration of RM3,260,000 only (“Disposal Consideration”) (“Disposal”).

 

Upon completion of the Disposal, HSSB will cease to be a subsidiary of Handal.

 

Further details of the Disposal are set out in the attachment herein.

 

This announcement is dated 11 April 2019.

 




Please refer attachment below.



Announcement Info

Company Name HANDAL RESOURCES BERHAD
Stock Name HANDAL
Date Announced 11 Apr 2019
Category General Announcement for PLC
Reference Number GA1-11042019-00108