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We refer to FACB Industries Incorporated Berhad’s announcement on 12/7/2010 in respect of the acquisition of the 30% equity interest in KSP. We are pleased to add further information to the announcement.
The cash consideration of RM2.414 million for the acquisition, using internally generated funds, was arrived at on a willing seller and willing buyer basis after taking into consideration the net assets of KSP. The acquisition allows Kanzen Tetsu Sdn Bhd to have full control on the business direction of KSP.
Pursuant to paragraph 10.02(g) of the Main Market Listing Requirements, the highest percentage ratio applicable to the acquisition is 1.98%. |
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