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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.

 

On behalf of the Board, M&A Securities wishes to announce that the SSA in relation to the Proposed Acquisition had been automatically terminated due to the non-fulfilment of Conditions Precedent of the SSA (as stipulated in Section 2.3.4 of the announcement dated 6 April 2023 in relation to the Proposed Acquisition) within the Conditional Period and HBGL had received notification from the Vendor that he does not intend to extend the Conditional Period.

 

In view of the above, the Company will submit an application to Bursa Securities for the withdrawal of the additional listing application for new HBGL Shares to be issued pursuant to the Proposed Acquisition which had been submitted to Bursa Securities for approval on 2 June 2023.

  

This announcement is dated 4 December 2023.






Announcement Info

Company Name HB GLOBAL LIMITED
Stock Name HBGLOB
Date Announced 04 Dec 2023
Category General Announcement for PLC
Reference Number GA1-04122023-00064



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