• RM576 Save up to RM288 with the Yearly Premium Plan (Limited Time Only)
  • RM480 Save up to RM240 with the Yearly Advanced Plan (Limited Time Only)
Subscribe Now
premium Subscription Plan
add free StockBiz
YouTube MS Production

Last Price Change Volume
KLSE Market Watch
Open: Day Range: Prev Close:


TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS HB GLOBAL LIMITED ("HBGL" OR THE "COMPANY") PROPOSED ACQUISITION BY HBGL OF 100% EQUITY INTEREST IN KK FRESH FROZEN SDN BHD FOR A PURCHASE CONSIDERATION OF RM30.0 MILLION TO BE SATISFIED WHOLLY BY ISSUANCE OF 200,000,000 NEW ORDINARY SHARES IN HBGL ("SHARES" OR "HBGL SHARES") ("CONSIDERATION SHARES") AT AN ISSUE PRICE RM0.15 PER CONSIDERATION SHARE ("PROPOSED ACQUISITION")

HB GLOBAL LIMITED

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
HB GLOBAL LIMITED ("HBGL" OR THE "COMPANY")

PROPOSED ACQUISITION BY HBGL OF 100% EQUITY INTEREST IN KK FRESH FROZEN SDN BHD FOR A PURCHASE CONSIDERATION OF RM30.0 MILLION TO BE SATISFIED WHOLLY BY ISSUANCE OF 200,000,000 NEW ORDINARY SHARES IN HBGL ("SHARES" OR "HBGL SHARES") ("CONSIDERATION SHARES") AT AN ISSUE PRICE RM0.15 PER CONSIDERATION SHARE ("PROPOSED ACQUISITION")

Unless otherwise stated or redefined, all abbreviations and definitions used herein shall have the same meanings as those used in the Company’s announcement dated 6 April 2023 in relation to the Proposed Acquisition.

 

Reference is made to the announcement dated 6 April 2023 in relation to the Proposed Acquisition.

 

M&A Securities had, on behalf of the Board, wishes to announce that Thinkat has revised the valuation method selected in deriving the fair market value of the entire equity interest of KK Fresh due to:

 

(i) an anomalous result was produced using the EV/EBITDA multiple; and

 

(ii) as the Profit Guarantee was provided in PAT format, the EV/EBITDA multiple was replaced with the Comparable Transaction Analysis (“CTA”) as the secondary valuation method as it adopts the PAT as the base metric in deriving the valuation of KK Fresh instead of EBITDA used in the EV/EBITDA multiple.

 

Further details of the revisions are set out in the attachment.

 

This announcement is dated 21 September 2023.




Please refer attachment below.

Attachments

HBGL - Revision.pdf
54.5 kB



Announcement Info

Company Name HB GLOBAL LIMITED
Stock Name HBGLOB
Date Announced 21 Sep 2023
Category General Announcement for PLC
Reference Number GA1-21092023-00045



Close
New Feature
MS Academy
AI StockMaster. Beat The Market! Checking MS Signal
DETECT REAL-TIME STOCK MOVEMENT
X
(InvestorPro Plan Only)
Complimentary access on Premium Plan*
What is AI StockMaster?
Window Alert On-Screen Alert X
X