FAVELLE FAVCO BERHAD (“FFB” OR “COMPANY”)
PROPOSED ACQUISITION BY FFB OF A CRANE FABRICATION YARD COMPRISING FREEHOLD INDUSTRIAL LAND, BUILDINGS AND IMPROVEMENTS, LOCATED AT NO. 28 YARRUNGA STREET, PRESTONS, NEW SOUTH WALES, 2170 AUSTRALIA WITH A TOTAL LAND AREA MEASURING APPROXIMATELY 11.6 ACRES FROM MUHIBBAH ENGINEERING (M) BHD FOR A TOTAL PURCHASE CONSIDERATION OF AUD15,000,000 (EQUIVALENT TO RM48,091,500), TO BE SATISFIED VIA THE ISSUANCE OF 31,678,743 NEW ORDINARY SHARES OF RM0.50 EACH IN FFB (“PROPOSED ACQUISITION”)
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