DETAILS OF THE PROPOSED ACQUISITION. 1
3.3.1 Salient terms of SPA 1
(a) Purchase Consideration 1,
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition by Hua-An of 10,000 ordinary shares in HK Aerospace, representing 50% of the total issued and paid up share capital in HK Aerospace from the Vendors for the Purchase Consideration in accordance with the terms and conditions of the New SPA. Upon completion of the Proposed Acquisition, HK Aerospace will become a 50%-owned subsidiary of Hua-An. Please refer to Appendix I of this Announcement for the salient terms of the New SPA.
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition by TC Champ Sdn Bhd of the Sale Shares, representing the entire equity interest therein from EFS Revision Energy Sdn Bhd with the Purchase Consideration upon the terms and conditions of the SSA.
2.1 Information of the RSSB
DETAILS OF THE PROPOSED ACQUISITION. Pursuant to the SSA, the Vendor has agreed to sell and the Purchaser has agreed to purchase the Sale Shares based on the terms and conditions of the SSA. Further information on the salient terms of the SSA are set out in Section 2.3 of this announcement. Innov8tif Holdings would become a 51% owned subsidiary of Hong Seng upon the completion of the sale and purchase of the Sale Shares pursuant to the terms and conditions as set out in the SSA.
DETAILS OF THE PROPOSED ACQUISITION. The details of the Proposed Acquisition are as follows: Date of Agreement : 7 June 2022 Registered owner : Chee Su Yu & Sons Sdn. Bhd. (Registration No. 197901005967 / 50250-A) Title particulars : Country Lease No. 075323661 situated at Mile 00, Xxxxx Xxxx, xx xxx xxxxxxxx xx Xxxxxxxx, Xxxxx Category of land use : Agriculture (cultivation of coconuts and oil palm) Existing use and description : The Proposed Acquisition is currently planted with matured oil palms (485 acres) and the rest are facilities (15.5 acre).
1. Oil palms with YOP 2007: 100 acres
2. Oil palms with YOP 2002: 385 acres
3. Facilities, Wooden houses: 0.5 acres (2 units) 4. Facilities, Roads and boundary: 15 acres Encumbrances : The Proposed Acquisition is currently free from any encumbrance with no restriction in interest Tenure : 99 years, expiring on 31 December 2070 Total land area : Approximately 500.5 acres (202.5 hectares) The future plans for the matured oil palm estate are as follow:
1. The immediate plan upon vacant possession of the land is to maintain and rehabilitate the present oil palm and if necessary, replant the current unproductive oil palm areas by phase.
2. Buildings, structures, fixtures and fittings will be maintained and upgraded to be used as estate facilities.
DETAILS OF THE PROPOSED ACQUISITION. 2.1 INFORMATION OF VENDOR
2.2 INFORMATION OF THE PURCHASER
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition is undertaken pursuant to the bid submitted to the selling agents, EY and Xxxxxx Xxxxx XXX, acting on behalf of the Officeholders. The Purchase Price of £400 million was arrived at based on the residual land value method taking into consideration the estimated selling prices of the units in this development less the estimated development costs and desired profit margin, and the amount of debt owing by the Vendors.
DETAILS OF THE PROPOSED ACQUISITION. On 16 March 2020, PPSB had entered into the SPA with GASB for the Proposed Acquisition. PPSB and GASB shall hereinafter be referred to as the “SPA Parties”. The Proposed Acquisition entails of the proposed acquisition of a freehold land held under Title No. GRN 312795, Lot 25300 in the Mukim of Semenyih, District of Ulu Langat, in the state of Selangor measuring approximately 34,740 square metres /
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition by Hua-An of 100,000 ordinary shares in TPI, representing the entire equity interest from the Vendors for the Purchase Consideration in accordance with the terms and subject to the conditions of the SPA. Upon completion of the Proposed Acquisition, TPI will become a wholly-owned subsidiary of Hua-An. Please refer to Appendix I of this Announcement for the salient terms of the SPA.
2.1 Information of the TPI Shareholder No. of Ordinary Shares % of Shareholding Total 100,000 100%
DETAILS OF THE PROPOSED ACQUISITION. The Proposed Acquisition entails the acquisition by TXB of the Sale Shares, representing 25% of the total issued and paid-up share capital of MBits with the Purchase Consideration subject to the terms and conditions as stipulated in the SPA. Upon completion of the Proposed Acquisition, MBits will become an associated company of TXB and the shareholding structure of MBits shall be as follows:- Vendor 30,000,000 75% 20,000,000 50% Unicorn Legendary Sdn. Bhd. 10,000,000 25% 10,000,000 25% TXB - - 10,000,000 25% MBits is a private limited company incorporated in Malaysia on 31 December 2014 under the Companies Act, 1965 and having its registered address at Xxxx 0-0-0, Xxxxx’x Xxxxxx, Xxxxx 0, 0xx Xxxxx, Xxxxx Xxxxx Xxx Xxxxx Xxxx, 00000 Wilayah Persekutuan Kuala Lumpur. MBits is a Digital Platform Creator principally involved in the busines of telecommunication and media-telco including but not limited to fiber optics, cloud services, data center, broadcasting IPTV, satellite and other related business activities thereto licensed by the Ministry of Communications and Multimedia Malaysia where the Company is holding CASP (full broadcasting license), NFP, NSP, ASP and MVNO (full telco spectrum) licences in Malaysia. As at 31 January 2021, being the latest practicable date prior to this announcement (“LPD”), MBits has an issued share capital of RM5,500,700.00 comprising 40,000,000 ordinary shares. As at LPD, the directors of MBits are Hor Xxxx Xxxxx, Tamilhselvan a/l Xxxxxx and the Vendor. The shareholders of MBits and their percentage of shareholdings before the Proposed Acquisition are as follows: Vendor 30,000,000 75% Unicorn Legendary Sdn. Bhd. 10,000,000 25%
