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Proposed Disposal of 600,000 Ordinary Shares of RM1.00 Each Representing 60% Equity Interest In Beribu Ukiran Sdn Bhd ("busb"), a subsidiary of FACB Industries Incorporated Berhad ("FACBII"), to Karambunai Corp Bhd ("KCB") For a Total Cash Consideration of RM3,160,934 ("Proposed Disposal");

Proposed Novation to Dapan Holdings Sdn Bhd ("DHSB"), A Wholly Owned Subsidiary of KCB, of RM33,373,382 Being the Amount Due and Owing by BUSB to FACBII and to be Paid by DHSB to FACBII and the Repayment Thereto to Be Guaranteed By KCB ("proposed Novation"); and

Proposed Termination of the shareholders Agreement Dated 31 March 1997 Made Between FACBII And KCB To Regulate Their Relationship As Shareholders Of BUSB ("Proposed Termination")

(collectively The "Proposals")

BackDec 08, 2009
Date Announced
:
 08/12/2009  



Type
:
 Announcement
Subject
:
PROPOSED DISPOSAL OF 600,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 60% EQUITY INTEREST IN BERIBU UKIRAN SDN BHD (“BUSB”), A SUBSIDIARY OF FACB INDUSTRIES INCORPORATED BERHAD (“FACBII”), TO KARAMBUNAI CORP BHD (“KCB”) FOR A TOTAL CASH CONSIDERATION OF RM3,160,934 (“PROPOSED DISPOSAL”);

PROPOSED NOVATION TO DAPAN HOLDINGS SDN BHD (“DHSB”), A WHOLLY OWNED SUBSIDIARY OF KCB, OF RM33,373,382 BEING THE AMOUNT DUE AND OWING BY BUSB TO FACBII AND TO BE PAID BY DHSB TO FACBII AND THE REPAYMENT THERETO TO BE GUARANTEED BY KCB (“PROPOSED NOVATION”); AND

PROPOSED TERMINATION OF THE SHAREHOLDERS AGREEMENT DATED 31 MARCH 1997 MADE BETWEEN FACBII AND KCB TO REGULATE THEIR RELATIONSHIP AS SHAREHOLDERS OF BUSB (“PROPOSED TERMINATION”)

(COLLECTIVELY THE “PROPOSALS”)

Contents
:
Please refer to the attached annoucement in respect of the above matter.

Attachments

  1. FACBIND081209.pdf (Size: 168,385 bytes)
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