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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : COMBINATION OF TRANSACTIONS TADMAX RESOURCES BERHAD ("TADMAX" or "the Group") - SUBSCRIPTION OF TWO HUNDRED THIRTY THREE THOUSAND THREE HUNDRED AND THIRTY FOUR (233,334) ORDINARY SHARES OF THE ISSUED SHARE CAPITAL OF BENDERA JUARA SDN BHD ("BJ") FOR A TOTAL SUBSCRIPTION PRICE OF RM233,334, RESULTING IN A 70% EQUITY INTEREST IN BJ ("PROPOSED SUBSCRIPTION"). - PROPERTY PURCHASED BY BJ FOR A TOTAL PURCHASE CONSIDERATION OF RM64.844 MILLION FROM SYARIKAT PERUMAHAN PEGAWAI KERAJAAN SDN BHD ("PROPERTY PURCHASED BY BJ")

TADMAX RESOURCES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
COMBINATION OF TRANSACTIONS
Description
TADMAX RESOURCES BERHAD ("TADMAX" or "the Group")
- SUBSCRIPTION OF TWO HUNDRED THIRTY THREE THOUSAND THREE HUNDRED AND THIRTY FOUR (233,334) ORDINARY SHARES OF THE ISSUED SHARE CAPITAL OF BENDERA JUARA SDN BHD ("BJ") FOR A TOTAL SUBSCRIPTION PRICE OF RM233,334, RESULTING IN A 70% EQUITY INTEREST IN BJ ("PROPOSED SUBSCRIPTION").

- PROPERTY PURCHASED BY BJ FOR A TOTAL PURCHASE CONSIDERATION OF RM64.844 MILLION FROM SYARIKAT PERUMAHAN PEGAWAI KERAJAAN SDN BHD ("PROPERTY PURCHASED BY BJ")

The Board of Directors of Tadmax wishes to announce that Tadmax has on 21 May 2020 entered into a subscription agreement  to subscribe for two hundred thirty three thousand three hundred and thirty four (233,334) ordinary shares (“the Subscription Shares”) of the issued capital of Bendera Juara Sdn Bhd (“BJ”) at subscription price of RM1.00 per share for a total subscription price of RM233,334 (“the Subscription Price”) (“Subscription Agreement”), resulting in Tadmax having a 70% equity interest in BJ (“Proposed Subscription”).

 

BJ is a wholly-owned subsidiary of Maxim Holdings Sdn Bhd [Registration No: 201401021505 (1097591-U)] prior to the Proposed Subscription, where Maxim Holdings Sdn Bhd is the beneficial owner of one hundred thousand (100,000) ordinary shares comprising the entire issued capital of BJ (“Present Owner”).

 

BJ (“the Purchaser”) has signed a Sales & Purchase Agreement (“SPA”) with Syarikat Perumahan Pegawai Kerajaan Sdn Bhd (“SPPK” or “the Vendor”) on 30 September 2019 to acquire a piece of leasehold land in Alam Damai, Cheras (“the Property”) measuring 5.73 acres or 249,400 sq. ft. free from all encumbrances, liens, charges and other encumbrances for a total purchase price of RM64,844,000 or RM260 per sq. ft. or RM2,798.60 per sq. meter (“Purchase Consideration”) (“Property Purchased by BJ”). The SPA is currently pending fulfilment of conditions precedent prior to completion.

 

For further details, kindly refer to the attachment.

 

This announcement is dated 21 May 2020.




Please refer attachment below.



Announcement Info

Company Name TADMAX RESOURCES BERHAD
Stock Name TADMAX
Date Announced 21 May 2020
Category General Announcement for PLC
Reference Number GA1-21052020-00012



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