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Transactions (Chapter 10 Of Listing Requirements):Non Related Party Transactions

BackDec 12, 2012
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description FACB INDUSTRIES INCORPORATED BERHAD ("FACB" OR THE "COMPANY")

I. PROPOSED DISPOSAL BY KANZEN KAGU SDN BHD ("KKSB"), A WHOLLY-OWNED SUBSIDIARY COMPANY OF FACB, OF A PARCEL OF LEASEHOLD INDUSTRIAL LAND ERECTED UPON WITH TWO (2) DETACHED FACTORIES AND OTHER SUPPORTING STRUCTURES, MEASURING 81,520.56 SQUARE METRES HELD UNDER H.S.(D) 132498/ LOT PT 64, SECTION 23, CITY OF SHAH ALAM, DISTRICT OF PETALING, SELANGOR DARUL EHSAN, TO ABSOLUTE DEAL SDN BHD ("ADSB") FOR A TOTAL CASH CONSIDERATION OF RM97.00 MILLION ("PROPOSED DISPOSAL OF PROPERTY"); AND

II. PROPOSED DISPOSAL BY FACB OF 10,000,000 ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 100% EQUITY INTEREST IN KANZEN TETSU SDN BHD ("KTSB") TO KENTZU STEEL SDN BHD ("KENTZU STEEL") FOR A TOTAL CASH CONSIDERATION OF RM34.50 MILLION ("PROPOSED DISPOSAL OF KTSB")

(COLLECTIVELY REFERRED TO AS THE "PROPOSED DISPOSALS")
On behalf of the Board of Directors of FACB ("Board"), OSK Investment Bank Berhad ("OSK") is pleased to announce the following:-
    i. KKSB, a wholly-owned subsidiary company of FACB, had on 12 December 2012 entered into a conditional sale and purchase agreement ("SPA") with ADSB for the proposed disposal by KKSB of a parcel of leasehold industrial land erected upon with two (2) detached factories and other supporting structures, measuring 81,520.56 square metres held under H.S.(D) 132498/ Lot PT 64, Section 23, City of Shah Alam, District of Petaling, Selangor Darul Ehsan (collectively referred to as the "Property") to ADSB for a total cash consideration of RM97.00 million ("Proposed Disposal of Property"); and

    ii. FACB had on 12 December 2012 entered into a conditional share sale agreement ("SSA") with Kentzu Steel for the proposed disposal by FACB of 10,000,000 ordinary shares of RM1.00 each, representing 100% equity interest in KTSB ("Sale Shares") to Kentzu Steel for a total cash consideration of RM34.50 million ("Proposed Disposal of KTSB")

    (Collectively referred to as the "Proposed Disposals")

    Further details on the Proposed Disposals are set out in the attachment.

 

Announcement Info

Company Name FACB INDUSTRIES INCORPORATED BERHAD  
Stock Name FACBIND    
Date Announced 12 Dec 2012  
Category General Announcement
Reference No OI-121212-63421

Attachments

  1. FACBIND121212.pdf (Size: 168,745 bytes)
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