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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SOLARVEST HOLDINGS BERHAD - PROPOSED ACQUISITION OF 50,000 ORDINARY SHARES OF DISTANCE SOLAR ENERGY SDN. BHD. ("DSESB") FROM MR. LIM A KAU @ LIM AH KAW, REPRESENTING 100% EQUITY INTERESTS IN DSESB BY SOLARVEST ASSET MANAGEMENT SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY ("PROPOSED ACQUISITION

SOLARVEST HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
SOLARVEST HOLDINGS BERHAD - PROPOSED ACQUISITION OF 50,000 ORDINARY SHARES OF DISTANCE SOLAR ENERGY SDN. BHD. ("DSESB") FROM MR. LIM A KAU @ LIM AH KAW, REPRESENTING 100% EQUITY INTERESTS IN DSESB BY SOLARVEST ASSET MANAGEMENT SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY ("PROPOSED ACQUISITION

We refer to the announcement dated 12 January 2024 in relation to the Proposed Acquisition. The terms used herein shall unless the context otherwise requires, bear the same meanings as those defined in previous announcement shall apply herein.

 

The Board of Directors of Solarvest is pleased to provide the following additional information to the Proposed Acquisition:-

 

Item 2.4 - Basis and justification in arriving the Purchase Consideration

 

The discounted cash flows of DSESB take into account the after-tax cash flows over the remaining approximately 15 years of Renewable Power Purchase Agreement at the unlevered internal rate of return, which the Group adopted for all other similar projects.

 

Item 3.0 -  Rationale for the Proposed Acquisition

 

Based on the latest audited consolidated financial statements of Solarvest for the financial year ended 31 March 2023, the expected earnings contributions of DSESB are less than 0.5% of the net profits of the Group. 

 

This announcement is dated 15 January 2024.

 






Announcement Info

Company Name SOLARVEST HOLDINGS BERHAD
Stock Name SLVEST
Date Announced 15 Jan 2024
Category General Announcement for PLC
Reference Number GA1-15012024-00043



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