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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION OF APPROXIMATELY 20.12% EQUITY INTEREST IN MAGNA PRIMA BERHAD (MPB) (PROPOSED ACQUISITION)

HUA YANG BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION OF APPROXIMATELY 20.12% EQUITY INTEREST IN MAGNA PRIMA BERHAD (MPB) (PROPOSED ACQUISITION)

On behalf of the Board of Directors of Hua Yang Berhad, AmInvestment Bank Berhad wishes to announce that Prisma Pelangi Sdn Bhd, a wholly owned subsidiary of Hua Yang Berhad had on 19 April 2017 entered into a conditional share sale agreement with Fantastic Realty Sdn Bhd, Lee Shu Shun, Lee Kok Meng, Yap Fatt Thai, Kok Sew Hong and Kok Sew Hwa for a proposed acquisition of 66,889,940 ordinary shares in MPB (“MPB Sale Shares”), representing approximately 20.12% of equity interest in MPB for a total consideration of RM123,746,389 or RM1.85 per MPB Sale Share (“Proposed Acquisition”).

Further details of the Proposed Acquisition are set out in the attachment.

This announcement is dated 19 April 2017. 




Please refer attachment below.



Announcement Info

Company Name HUA YANG BERHAD
Stock Name HUAYANG
Date Announced 19 Apr 2017
Category General Announcement for PLC
Reference Number GA1-19042017-00093


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