TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY EA HOLDINGS BERHAD ("EAH" OR "THE COMPANY") OF 75,000,005 ORDINARY SHARES OF RM0.10 EACH IN PLANT OFFSHORE BERHAD ("POB") REPRESENTING 25% EQUITY INTEREST IN POB FOR AN INDICATIVE PURCHASE CONSIDERATION OF RM21,375,000 TO BE SATISFIED ENTIRELY BY THE ISSUANCE OF 194,318,182 NEW ORDINARY SHARES OF RM0.10 EACH IN EAH ("EAH SHARE(S)" OR "SHARE(S)") AT AN ISSUE PRICE OF RM0.11 PER EAH SHARE ("PROPOSED ACQUISITION")
EA HOLDINGS BERHAD |
Admission Sponsor | RHB Investment Bank Bhd |
Sponsor | Same as above |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | PROPOSED ACQUISITION BY EA HOLDINGS BERHAD ("EAH" OR "THE COMPANY") OF 75,000,005 ORDINARY SHARES OF RM0.10 EACH IN PLANT OFFSHORE BERHAD ("POB") REPRESENTING 25% EQUITY INTEREST IN POB FOR AN INDICATIVE PURCHASE CONSIDERATION OF RM21,375,000 TO BE SATISFIED ENTIRELY BY THE ISSUANCE OF 194,318,182 NEW ORDINARY SHARES OF RM0.10 EACH IN EAH ("EAH SHARE(S)" OR "SHARE(S)") AT AN ISSUE PRICE OF RM0.11 PER EAH SHARE ("PROPOSED ACQUISITION") |
The Board of Directors of EAH ("Board"), wishes to announce that the Company had, on 6 May 2013, entered into a heads of agreement ("HOA") with Bioenergy Design Sdn Bhd, Rising Star Yields Sdn Bhd, Tanah Surian Saujana Sdn Bhd, Tneo Tong Seng, Pey Biing Kuen, Mutiara Zainal Farid and Loh Pit Kong (collectively referred to as the "Vendors") for the proposed acquisition by EAH of 75,000,005 ordinary shares of RM0.10 each in POB ("Sale Shares") representing 25% of the total issued and paid up share capital of POB for an indicative purchase price of RM21,375,000 ("Purchase Price") to be fully satisfied by the issuance of 194,318,182 EAH Shares at an issue price of RM0.11 per EAH Share ("Consideration Shares"). Further details of the Proposed Acquisition, including the basis of determining the purchase consideration and the rationale for the Proposed Acquisition, will be announced upon the execution of a definitive sale and purchase agreement on terms acceptable to EAH and the Vendors ("SPA"). Additional information on the Proposed Acquisition are set out in the attachment. This announcement is dated 06 May 2013. |
Announcement Info
Company Name | EA HOLDINGS BERHAD (ACE Market) |
Stock Name | EAH |
Date Announced | 6 May 2013 |
Category | General Announcement |
Reference No | CZ-130506-56319 |