Bursa Announcements

Date : 21 January 2016

MULTIPLE PROPOSALS FUTUTECH BERHAD ("FUTUTECH" OR THE COMPANY") - ACQUISITIONS; - PRIVATE PLACEMENT; - INCREASE IN AUTHORISED CAPITAL; AND - AMENDMENTS TO M&A (COLLECTIVELY REFERRED TO AS THE PROPOSALS)

FUTUTECH BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
FUTUTECH BERHAD ("FUTUTECH" OR THE COMPANY")

-	ACQUISITIONS;
-	PRIVATE PLACEMENT; 
-	INCREASE IN AUTHORISED CAPITAL; AND
-	AMENDMENTS TO M&A

(COLLECTIVELY REFERRED TO AS THE PROPOSALS)

Reference is made to the announcements dated 15 September 2015, 6 October 2015, 18 December 2015, 29 December 2015, 13 January 2016 and 20 January 2016 (“Announcements”) and the circular to the shareholders of Fututech dated 29 December 2015 (“Circular”) in relation to, inter-alia, the Acquisitions.

 

(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meaning as those previously defined in the Announcements and Circular.)

 

On behalf of the Board of Directors of Fututech (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) and Astramina Advisory Sdn Bhd (“Astramina”) (collectively, the “Joint Advisers”) are pleased to announce that the KPSB SSA and PBSB SSA have become unconditional on 20 January 2016 upon fulfillment of all the conditions precedent set out therein. The Acquisitions have been completed on 21 January 2016 in accordance with the respective terms of the KPSB SSA and PBSB SSA. Accordingly, Kerjaya Prospek and Permatang Bakti are now wholly-owned subsidiaries of Fututech.

 

Fututech had on 21 January 2016 entered into a licence agreement (“LA”) with Kerjaya Prospek Property Sdn Bhd (“Licensor”), a company related to the Vendors, which entails the Licensor granting and Fututech obtaining a non-exclusive and non-transferable licence to use the Trademarks (as defined herein) in relation to Fututech’s business operations. Please refer to attachment for details on the LA and the Licensor.

 

This announcement is dated 21 January 2016.




Please refer attachment below.

Attachments

Document1 (1).pdf
33.1 kB



Announcement Info

Company Name FUTUTECH BERHAD
Stock Name FUTUTEC
Date Announced 21 Jan 2016
Category General Announcement for PLC
Reference Number GA1-21012016-00099


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