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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS HUA YANG BERHAD (HYB or the Company) -Proposed acquisition of Development Company by Hua Yang Berhad

HUA YANG BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
HUA YANG BERHAD (HYB or the Company)
-Proposed acquisition of Development Company by Hua Yang Berhad

The Board of Directors of HYB wishes to announce that HYB had today entered into a conditional Share Sale Agreement (SSA) with Wong Ko Seen @ Wong Kow, Wong Yoon Tsy, Bio-Energy Technology Sdn Bhd, Ria Ketara Development Sdn Bhd, Apple Rainbow Sdn Bhd and E-Hong Holdings Sdn Bhd (collectively known as the “Vendors”) to acquire 3,000,000 ordinary shares being the entire paid up share capital of Kajang Heights Development Sdn Bhd (“KHDSB” ), a company incorporated in Malaysia with its registered office at J-G-3A, Connaught Avenue, No. 38, Jalan 9, Taman Bukit Cheras 56000 Kuala Lumpur and its business address at No. 41, Jalan Ria 1, Kawasan Perindustrian Ria, 43000 Kajang, Selangor for a total cash consideration of RM70,000,000.00 (“Purchase Price”) (the “Proposed Acquisition”).

Details of the Proposed Acquisition are set out in the enclosed file.

This announcement is dated 27 December 2017.




Please refer attachment below.



Announcement Info

Company Name HUA YANG BERHAD
Stock Name HUAYANG
Date Announced 27 Dec 2017
Category General Announcement for PLC
Reference Number GA1-27122017-00025


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