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OTHERS Bonia Corporation Berhad - Letter of intent in respect of the proposed subscription of new ordinary shares in IT SEA Holdings Sdn. Bhd. by Bonia Corporation Berhad

BONIA CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
Bonia Corporation Berhad - Letter of intent in respect of the proposed subscription of new ordinary shares in IT SEA Holdings Sdn. Bhd. by Bonia Corporation Berhad

The Board of Directors (“Board”) of Bonia Corporation Berhad (“Bonia” or “Company” or “Proposed Subscriber”, and references to “Bonia Group” or “Group” are to Bonia and our subsidiaries) wishes to inform that the Company had on 19 March 2024, entered into a letter of intent (“LOI-ITSH”) with IT SEA Holdings Sdn. Bhd. (“ITSH”) to further discuss and explore the potential subscription by Bonia of 6,193,000 new ordinary shares equivalent to or representing 30% of the total enlarged number of issued shares of ITSH (post-Proposed Subscription) at the total subscription consideration of RM7,500,000.00 based on discounted cashflow valuation subject to the final findings, results and valuation from or of the due diligence exercise to be conducted on ITSH and its subsidiaries/associate. (collectively, “Proposed Subscription”).

 

Please refer to the attachment for the full text of this announcement including, but not limited to, the details of the LOI-ITSH.

 

This announcement is dated 19 March 2024.




Please refer attachment below.



Announcement Info

Company Name BONIA CORPORATION BERHAD
Stock Name BONIA
Date Announced 19 Mar 2024
Category General Announcement for PLC
Reference Number GA1-19032024-00089



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