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Date: 14 December 2017

MULTIPLE PROPOSALS EA HOLDINGS BERHAD ("EAH" OR THE "COMPANY") I. PROPOSED BONUS ISSUE OF WARRANTS; II. PROPOSED ACQUISITION; AND III. PROPOSED DIVERSIFICATION. (COLLECTIVELY REFERRED TO AS, THE "PROPOSALS")


Type Announcement
Subject MULTIPLE PROPOSALS
Description EA HOLDINGS BERHAD ("EAH" OR THE "COMPANY") I. PROPOSED BONUS ISSUE OF WARRANTS; II. PROPOSED ACQUISITION; AND III. PROPOSED DIVERSIFICATION. (COLLECTIVELY REFERRED TO AS, THE "PROPOSALS")

On behalf of the Board of Directors of EAH, UOB Kay Hian Securities (M) Sdn Bhd wishes to announce that EAH proposes to undertake the following:- 

(i) bonus issue of up to 1,596,354,405 Warrants in EAH ("Warrant(s) E") on the basis of five (5) free Warrants E for every 16 existing ordinary shares of EAH ("EAH Shares") held by the shareholders of EAH on an entitlement date to be determined later (?Proposed Bonus Issue of Warrants?); 

(ii) acquisition of 90.0% equity interest of Sunland Volonte Agency Sdn Bhd ("Sunland"), comprising 225,000 ordinary shares of Sunland from Dato' Cheong Soo Han, Law Kum Wah, Chong Nyet Fan and Goh Swee Sim (collectively referred to as, the ?Vendors?) for a purchase consideration of RM78,750,000, to be satisfied via a combination of cash payment of RM15,000,000 and the issuance and allotment of 1,593,750,000 new ordinary shares of EAH at the issue price of RM0.04 per EAH Share amounting to RM63,750,000 (?Proposed Acquisition?); and 

(iii) diversification of the existing principal activities of EAH and its subsidiaries to include sales and distributions of packet foods and beverages products (?Proposed Diversification?). 

Please refer to the attachment for further details of the Proposals.

 

This announcement is dated 14 December 2017. 



 


ATTACHMENT

- EA Holdings Berhad_Announcement_Proposals.pdf

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