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14-01-2017, 12:26 PM
Proposed Disposal of the Entire Issued and Paid-Up Share Capital of Precico Electronics Sdn Bhd to Valeo Bayen
Precico Group Sdn Bhd ("PGSB"), a wholly-owned subsidiary of Frencken Group Limited, has on 13 January 2017 entered into a share sale agreement with Valeo Bayen (the "Purchaser"), pursuant to which PGSB has agreed to sell to the Purchaser 168,200,000 ordinary shares, representing the entire issued and paid-up share capital of Precico Electronics Sdn Bhd ("PESB") on the terms and subject to the conditions of the SPA for a consideration of RM128,000,000 less the Definitive Net Debt Amount (as defined below) (if positive figure) or add the Definite Net Debt Amount (if negative figure).
Based on the management accounts of PESB for 9M2016, the estimated Consideration is approximately RM132,113,000.
The net tangible asset value of PESB as at 31 December 2015 and 30 September 2016 was S$32,315,000 and S$32,336,000, respectively.
The net loss attributable to PESB for FY2015 and 9M2016 was S$4,112,000 and S$632,000, respectively.
More details in http://infopub.sgx.com/FileOpen/Proposed...eID=435828
RM128,000,000 = S$42,980,000, based on an exchange rate of RM2.9781:S$1
RM132,113,000 = S$44,361,000, based on an exchange rate of RM2.9781:S$1
Precico Group Sdn Bhd ("PGSB"), a wholly-owned subsidiary of Frencken Group Limited, has on 13 January 2017 entered into a share sale agreement with Valeo Bayen (the "Purchaser"), pursuant to which PGSB has agreed to sell to the Purchaser 168,200,000 ordinary shares, representing the entire issued and paid-up share capital of Precico Electronics Sdn Bhd ("PESB") on the terms and subject to the conditions of the SPA for a consideration of RM128,000,000 less the Definitive Net Debt Amount (as defined below) (if positive figure) or add the Definite Net Debt Amount (if negative figure).
Based on the management accounts of PESB for 9M2016, the estimated Consideration is approximately RM132,113,000.
The net tangible asset value of PESB as at 31 December 2015 and 30 September 2016 was S$32,315,000 and S$32,336,000, respectively.
The net loss attributable to PESB for FY2015 and 9M2016 was S$4,112,000 and S$632,000, respectively.
More details in http://infopub.sgx.com/FileOpen/Proposed...eID=435828
RM128,000,000 = S$42,980,000, based on an exchange rate of RM2.9781:S$1
RM132,113,000 = S$44,361,000, based on an exchange rate of RM2.9781:S$1
Specuvestor: Asset - Business - Structure.