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PROPOSED ACQUISITION OF 70% OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL IN CLAYBRICKS & TILES SDN BHD ("CTSB"), QUALIBRICKS & TILES SDN BHD ("QTSB"), AND MANDONG TRANSPORT & TRADING SDN BHD ("MTTSB") ("PROPOSED ACQUISITION")

HARVEST MIRACLE CAPITAL BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-21112023-00001
Subject PROPOSED ACQUISITION OF 70% OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL IN CLAYBRICKS & TILES SDN BHD ("CTSB"), QUALIBRICKS & TILES SDN BHD ("QTSB"), AND MANDONG TRANSPORT & TRADING SDN BHD ("MTTSB") ("PROPOSED ACQUISITION")
Description
HARVEST MIRACLE CAPITAL BERHAD ("HMCB" OR "THE COMPANY")
- PROPOSED ACQUISITION OF 70% OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL IN CLAYBRICKS & TILES SDN BHD (CTSB), QUALIBRICKS & TILES SDN BHD (QTSB), AND MANDONG TRANSPORT & TRADING SDN BHD (MTTSB)
Query Letter Contents

We refer to your Company’s announcement dated 20 November 2023 (“Announcement”), in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) The indirect shareholdings of the directors and shareholders of Commonwell Sdn Bhd (“CSB”) in CSB.
2) To elaborate on the basis of arriving at the purchase consideration for the Proposed Acquisition. In this regard, to state the year the net assets of CTSB, QTSB and MTTSB (collectively, “Targets”) were taken into consideration, quantify the net assets and state whether it was based on audited financial statements of the respective companies.
3) To quantify the discount agreed by the parties on the net assets of the Targets, and provide justification for such discount.
4) Whether the deposits for the Proposed Acquisition have been paid, and if yes, the date(s) of payment.
5) The terms of payment of the balance sum equivalent to 80% of the purchase consideration for the Proposed Acquisition.

6) The existing and proposed use of the lands owned by CTSB and QTSB.
7) The details of the building(s) owned by CTSB and/or QTSB, as per Part C of Appendix 10A of the ACE Market Listing Requirements.
8) The timeframe for the vendors to satisfy the conditions precedent to the share sale agreement for the Proposed Acquisition.
9) The definition of Completion Date and Extended Completion Date as referred to in Section 6.4 of the Announcement.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,
Listing, 
Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)

(The definitions used in this announcement shall have the same meanings as defined in the announcements dated 17 and 20 November 2023 in respect of the aforesaid matter.)

 

Kindly refer to the attachment for additional information as requested by Bursa Malaysia Securities Berhad.

 

This announcement is dated 22 November 2023.

 



Please refer attachment below.



Announcement Info

Company Name HARVEST MIRACLE CAPITAL BERHAD
Stock Name HM
Date Announced 22 Nov 2023
Category General Announcement for PLC
Reference Number GA1-20112023-00026



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