| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | FACB INDUSTRIES INCORPORATED BERHAD ("FACB" OR THE "COMPANY") ACQUISITION BY FACB OF 5,249,999 ORDINARY SHARES OF RM1.00 EACH AND 7,000,000 PREFERENCE SHARES OF RM1.00 EACH IN RESTONIC (M) SDN BHD ("RESTONIC"), REPRESENTING 30% AND 100% OF THE ORDINARY SHARES AND PREFERENCE SHARES RESPECTIVELY IN RESTONIC FROM PACIFIC BRANDS HOLDINGS PTY LTD ("PACIFIC BRANDS") FOR A TOTAL PURCHASE CONSIDERATION OF RM6,709,955 TO BE FULLY SATISFIED VIA CASH ("ACQUISITION") |
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The Board of Directors of FACB Industries Incorporated Berhad ("FACB" or the "Company") wishes to announce that the Company had, on 22 October 2012, entered into a Share Sale Agreement ("SSA") with Pacific Brands ("Vendor") to acquire all its 5,249,999 ordinary shares of RM1.00 each representing 30% of the total paid up ordinary shares in Restonic ("Restonic Shares") and 7,000,000 preference shares of RM1.00 each representing 100% of the total paid up preference shares in Restonic ("Restonic Preference Shares") ("Restonic Shares" and "Restonic Preference Shares" shall be collectively referred to as the "Sale Shares"), for a total purchase consideration of RM6,709,955 ("Purchase Consideration") to be satisfied entirely via cash. Please refer to the attachment for the details of the announcement. This announcement is dated 22 October 2012. |
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| Company Name | FACB INDUSTRIES INCORPORATED BERHAD |
| Stock Name | FACBIND |
| Date Announced | 22 Oct 2012 |
| Category | General Announcement |
| Reference No | FI-121022-35673 |
Attachments