(The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the Company’s announcement made on 8 February 2018 in relation to the Acquisition of Shares in Jiankun International Berhad.)
Reference is made to the Company’s announcement made on 8 February 2018.
The Board of Directors of Advance Information Marketing Berhad (“AIM” or “the Company”) wishes to provide the following additional information:
1. The date(s) on which the 16,369,600 JIB shares were acquired.
The details of the 16,369,600 JIB shares acquired by the Company were set out in the table attached.
2. The channel through which the previous 16,078,400 JIB shares were acquired, the basis of arriving at the purchase consideration, and the manner in which the consideration was satisfied (“Previous Acquisitions”).
The previous acquisitions of totalling 16,078,400 JIB shares prior to 2 February 2018 were acquired through the open market and fully satisfied in cash. The total cash consideration approximately of RM4,730,330.00 were based on the privilege market prices of JIB Shares trading on Bursa Malaysia Securities Berhad at time of each purchased.
3. The net profits and net assets of JIB based its latest audited financial statements.
Based on the latest consolidated audited financial statements of Jiankun International Berhad (“JIB”) for the financial year ended 31 December 2016, JIB incurred a loss after taxation of RM3,405,866 and the net assets as at 31 December 2016 was RM45,597,845.
4. The effect of the Previous Acquisitions on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of Advance Information Marketing Berhad (“AIM”) Group.
The Previous Acquisitions will not have any material effect on the earnings per share, net assets per share, and gearing of the AIM Group for the financial year ended 31 December 2017 and the Previous Acquisitions will not have any effect on the share capital and substantial shareholders’ shareholding of the Company as the Previous Acquisitions was fully satisfied in cash.
5. The source(s) of funding of the Previous Acquisitions and its breakdown.
The Previous Acquisitions was funded via internal generated funds and the breakdowns of the Previous Acquisitions were set out in the table attached.
6. The particular of all liabilities, including contingent liabilities and guarantees assumed by AIM arising from the Previous Acquisitions.
The AIM Group will not be assuming any liabilities, including contingent liabilities and guarantees from the Previous Acquisitions.
7. The rationale for the Previous Acquisitions including any benefit which is expected to accrue to AIM as a result of the Previous Acquisitions.
The Previous Acquisitions is part of the Company initiatives to expand its portfolio of investment for potential value enhancement.
8.Whether the directors and/or major shareholders and/or person connected with director or major shareholder have any interest, direct or indirect, in the Previous Acquisitions and the nature and extent of their interests.
None of other Directors, Substantial and Major Shareholders of AIM and/or persons connect with them have any direct or indirect interest in the Previous Acquisitions save for Dato’ Ir Lim Siang Chai who are the Executive Chairman and Substantial Shareholders of JIB, is also a Non-Independent Non-Executive Director of AIM.
This announcement is dated 13 February 2018.