TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ANCOM BERHAD - PROPOSED DISPOSAL OF AN EQUITY INTEREST IN PUNCAK BERLIAN SDN. BHD. HELD BY REDBERRY SDN. BHD.
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
|Description||ANCOM BERHAD - PROPOSED DISPOSAL OF AN EQUITY INTEREST IN PUNCAK BERLIAN SDN. BHD. HELD BY REDBERRY SDN. BHD.|
Ancom Berhad ("the Company" or "Ancom") wishes to announce that Redberry Sdn. Bhd. ("RSB"), a wholly-owned subsidiary of the Company had on 16 November 2017, entered into a Share Sale Agreement ("SSA") with VGI Global Media (Malaysia) Sdn. Bhd. ("VGI Malaysia") for the disposal of 4,281,277 ordinary shares, representing 25% of the issued and paid-up share capital, in Puncak Berlian Sdn. Bhd. held by RSB to VGI Malaysia at a consideration of RM13,154,175 (Ringgit Malaysia Thirteen Million One Hundred Fifty-Four Thousand One Hundred and Seventy-Five) only, subject to the terms and conditions stipulated in the SSA ("Proposal").
Further details of the Proposal are stated in the file attached.
This announcement is dated 16 November 2017.