| Company Name | : | FAVELLE FAVCO BERHAD |
| Stock Name | : | FAVCO |
| Date Announced | : | 03 Jul 2018 |
| Category | : | General Announcement for PLC |
| Reference Number | : | GA1-02072018-00054 |
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS FAVELLE FAVCO BERHAD ("FAVCO" OR "THE COMPANY") ACQUISITION BY FAVCO OF 70% EQUITY INTERESTS IN EACH OF THE FOLLOWING COMPANIES: (I) EXACT AUTOMATION SDN BHD ("EXACT AUTOMATION"); (II) SEDIA TEGUH SDN BHD ("SEDIA TEGUH"); (III) EXACT ANALYTICAL SDN BHD ("EXACT ANALYTICAL"); AND (IV) EXACT OIL & GAS SDN BHD ("EXACT OIL & GAS") (HEREINAFTER REFERRED TO AS THE "ACQUISITION")
FAVELLE FAVCO BERHAD
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
FAVELLE FAVCO BERHAD ("FAVCO" OR "THE COMPANY")
ACQUISITION BY FAVCO OF 70% EQUITY INTERESTS IN EACH OF THE FOLLOWING COMPANIES:
(I) EXACT AUTOMATION SDN BHD ("EXACT AUTOMATION");
(II) SEDIA TEGUH SDN BHD ("SEDIA TEGUH");
(III) EXACT ANALYTICAL SDN BHD ("EXACT ANALYTICAL"); AND
(IV) EXACT OIL & GAS SDN BHD ("EXACT OIL & GAS")
(HEREINAFTER REFERRED TO AS THE "ACQUISITION")
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(Unless otherwise defined, the terms used in this announcement shall have the same meaning as those defined in the announcement dated 28 March 2018) We refer to our announcements dated 5 October 2017, 4 January 2018, 2 March 2018, 28 March 2018 and 2 April 2018 in relation to the Acquisition. Our Board wishes to announce that the Acquisition has been completed today following the fulfilment of the conditions precedents set out in the SPA and payment of the indicative Initial Purchase Consideration of RM90.74 million in accordance with the SPA. With the completion of the Acquisition, the Target Companies are now 70%-owned subsidiaries of the Company. This announcement is dated 3 July 2018. |
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