MULTIPLE PROPOSALS MESB BERHAD (“MESB” OR “COMPANY”) (I) PROPOSED DISPOSALS; (II) PROPOSED ACQUISITIONS; AND (III) PROPOSED RENEWAL OF SHAREHOLDERS’ MANDATE
Author: admin | Filed under: Announcement, Investor Presentation| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | MESB BERHAD (“MESB” OR “COMPANY”)
(I) PROPOSED DISPOSALS; (II) PROPOSED ACQUISITIONS; AND (III) PROPOSED RENEWAL OF SHAREHOLDERS’ MANDATE |
| On behalf of the board of directors of MESB, KAF Investment Bank Berhad wishes to announce that the Company had on 22 September 2022 entered into the following agreements:-
(i) a conditional share sale agreement for the proposed disposals of the entire equity interests in Active Fit Sdn Bhd and MESB Capital & Development Sdn Bhd as well as 45% equity interest in Miroza Leather (M) Sdn Bhd to Trend Navigator Sdn Bhd for a total cash consideration of RM46,000,000; and (ii) a conditional share purchase agreement for the proposed acquisitions of the entire equity interests in N.U. Recycle Sdn Bhd, Formidex Sdn Bhd and Waier Trading Sdn Bhd from Lotus Essential Sdn Bhd, Datuk Wong Sak Kuan (“DWSK“) and Lee Wai Fun for a total cash consideration of RM51,000,000 (“Proposed Acquisitions”). In addition, MESB will also be procuring its shareholders’ mandate for recurrent related party transactions expected to be entered into by MESB and its subsidiaries with companies related to DWSK, a vendor, following the completion of the Proposed Acquisitions in addition to the on-going recurrent related party transactions where MESB had procured the general mandate from its shareholders on 7 December 2021. Kindly refer to the attached document for the complete announcement. This announcement is dated 22 September 2022. Attachment : MESB – Announcement dated 22.9.2022 |
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