TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MESB BERHAD (“MESB” OR THE “COMPANY”) ACQUISITION BY MESB OF THE ENTIRE EQUITY INTEREST IN ACTIVE FIT SDN BHD FOR A CASH CONSIDERATION OF RM19,000,000 (“ACQUISITION”)
| MESB BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
MESB BERHAD ("MESB" OR THE "COMPANY")
ACQUISITION BY MESB OF THE ENTIRE EQUITY INTEREST IN ACTIVE FIT SDN BHD FOR A CASH CONSIDERATION OF RM19,000,000 ("ACQUISITION")
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For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Company’s announcement dated 23 July 2015 in relation to the Acquisition.
We refer to the Company’s announcement dated 23 July 2015 in relation to the Acquisition. On behalf of the Board of Directors of MESB, KAF Investment Bank Berhad wishes to announce that the conditions precedent as set out in the SSA have been fulfilled and satisfied on 7 October 2015. In this regard, the SSA has become unconditional with effect from 7 October 2015. In accordance with the terms of the SSA, the Deposit received by the Purchaser’s Solicitors as a stakeholder shall, together with interest earned thereon, if any, be released to the Vendors or their nominees within seven (7) days from the Completion Date. Subsequent to the SSA becoming unconditional, MESB and the Vendors had, via an exchange of letter dated 7 October 2015, mutually agreed to an early release of the Deposit by the Purchaser’s Solicitors to the Vendors (“Release of Deposit”). The Release of Deposit will not give rise to any material amendment, modification or variation to the Acquisition under Paragraph 8.22 of the Main Market Listing Requirements of Bursa Securities. This announcement is dated 8 October 2015. |
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