TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS THREE-A RESOURCES BERHAD (3A OR THE COMPANY) PROPOSED DISPOSAL OF THE ENTIRE 50% EQUITY INTEREST HELD BY THREE-A FOOD INDUSTRIES (M) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, IN THREE-A (QINHUANGDAO) FOOD INDUSTRIES CO. LTD TO YIHAI KERRY INVESTMENTS CO. LTD.
THREE-A RESOURCES BERHAD
| Announcement Date |
5 Sep 2017 |
| Type |
Announcement |
| Subject |
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS |
| Description |
THREE-A RESOURCES BERHAD("3A")
PROPOSED DISPOSAL OF THE ENTIRE 50% EQUITY INTEREST HELD BY THREE-A FOOD INDUSTRIES (M) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, IN THREE-A (QINHUANGDAO) FOOD INDUSTRIES CO. LTD TO YIHAI KERRY INVESTMENTS CO. LTD. |
Pursuant to Paragraph 10.08 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Board of Directors of 3A wishes to announce that Three-A Food Industries (M) Sdn Bhd (“TAFISB”), a wholly-owned subsidiary of the Company, has on 5 September 2017 entered into a Share Purchase Agreement (“SPA”) with Yihai Kerry Investments Co. Ltd. (“YKI” or “Purchaser”), a wholly-owned subsidiary of Wilmar International Limited ("WIL"), for the proposed disposal of the entire 50% equity interest held by TAFISB in Three-A (Qinhuangdao) Food Industries Co. Ltd (“TAQ”) (“Sale Shares”) for RMB5,000,000.00 [equivalent to RM3,263,000 , based on the exchange rate of RMB1:RM0.6526 as at 5 September 2017] ("Consideration") ("Proposed Disposal").
Upon completion of the Proposed Disposal, TAQ will cease to be a joint venture company of 3A.
