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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS GLOBAL ORIENTAL BERHAD ("GOB" OR THE "COMPANY") I. PROPOSED ACQUISITION; AND II. PROPOSED DIVERSIFICATION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

GLOBAL ORIENTAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
GLOBAL ORIENTAL BERHAD ("GOB" OR THE "COMPANY")

I.	PROPOSED ACQUISITION; AND

II.	PROPOSED DIVERSIFICATION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

On behalf of the Board of Directors of GOB ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce the following:-

i. GOB ("Purchaser") had on 5 January 2024, entered into a conditional share sale purchase agreement ("SPA") with Edisijuta Sdn Bhd ("ESB") and Cahaya Impian Sdn Bhd ("CISB") (collectively, the "Sellers") for the proposed acquisition by GOB of 450,000 ordinary shares in Edisijuta Parking Sdn Bhd ("EPSB") ("EPSB Share(s)") ("Sale Shares"), representing the remaining 45% equity interest in EPSB (not already owned by GOB) for a purchase consideration of RM22,500,000 ("Purchase Consideration"), to be satisfied entirely via cash ("Proposed Acquisition"); and

ii. proposed diversification of the existing principal activities of GOB and its subsidiaries ("GOB Group" or the "Group") to include the business of car park operations management ("Car Park Operations Business") ("Proposed Diversification").

The Proposed Acquisition and Proposed Diversification are collectively referred to as the "Proposals".

Further details of the Proposals are set out in the attachment enclosed.

 

This announcement is dated 5 January 2024.




Please refer attachment below.



Announcement Info

Company Name GLOBAL ORIENTAL BERHAD
Stock Name GOB
Date Announced 05 Jan 2024
Category General Announcement for PLC
Reference Number GA1-05012024-00043



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