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OTHERS Unitrade Industries Berhad ("UIB" or "the Company") - Proposed Acquisition by UIB of 51.0% Equity Interest in Intergreen Metals Sdn Bhd ("IMSB") for a total cash consideration of RM66.3 million ("Proposed Acquisition")

UNITRADE INDUSTRIES BERHAD

Type Announcement
Subject OTHERS
Description
Unitrade Industries Berhad ("UIB" or "the Company")
- Proposed Acquisition by UIB of 51.0% Equity Interest in Intergreen Metals Sdn Bhd ("IMSB") for a total cash consideration of RM66.3 million ("Proposed Acquisition")

Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcements dated 31 July 2023, 12 December 2023 and 15 December 2023.

 

Further to Unitrade Industries Berhad’s (“UIB” or the “Company”) announcement dated 12 December 2023 and 15 December 2023 and Bursa Malaysia Securities Berhad’s (“Bursa Securities”) email correspondence duly received by the Company on 20 December 2023, the Company wishes to announce the following additional information as required by Bursa Securities:-

 

1. To elaborate on the statement: “Pong Wing Seng has been appointed by IMSB as Executive Director since 2010 but does not hold a directorship position in IMSB within the definition of the Companies Act 2016.”

 

Mr Pong Wing Seng has been employed by IMSB since 2010, assuming the role of "Executive Director." Despite his designation of "Executive Director", he was not appointed as director of IMSB within the meaning of Companies Act 2016 and thus does not hold a position on the Board of Directors of the IMSB. Furthermore, the designation "Executive Director" for Mr Pong Wing Seng is not registered in the Register of Directors, Managers and Secretaries pursuant to Section 57 of the Companies Act 2016. Mr Pong Wing Seng role in IMSB are that of overseeing operating activities of IMSB and is overseen by the Board of Directors of IMSB.

 

2. The proposed use of Lot 14985, Jalan Kota Raja /KS07, Jalan Kebun Nenas, 41200 Klang, Selangor and Lot 6982, Jalan Seelong Jaya 5, 81400, Kg. Seelong Jaya, Johor.

 

Metal recycling yard which is used to collect, process, and recycle various types of metal that can be reused as input feedstock by steel manufacturers.

 

This announcement is dated 21 December 2023. 






Announcement Info

Company Name UNITRADE INDUSTRIES BERHAD
Stock Name UNITRAD
Date Announced 21 Dec 2023
Category General Announcement for PLC
Reference Number GA1-20122023-00047



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