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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MAA GROUP BERHAD ("MAAG" OR "THE COMPANY" OR "THE SELLER") PROPOSED DISPOSAL OF 57.78% EQUITY INTEREST HELD IN TURIYA BERHAD ("TURIYA") ("PROPOSED DISPOSAL")

MAA GROUP BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
MAA GROUP BERHAD ("MAAG" OR "THE COMPANY" OR "THE SELLER")

PROPOSED DISPOSAL OF 57.78% EQUITY INTEREST HELD IN TURIYA BERHAD ("TURIYA") ("PROPOSED DISPOSAL")

The Board of Directors of MAAG (“Board”), wishes to announce that MAAG has entered into a Share Sale and Purchase Agreement (“SSPA”) today with Khidmat Kejora Sdn Bhd (“KKSB”) and Neo Pixel Sdn Bhd (“NPSB”) (Both KKSB and NPSB collectively referred to as the “Purchasers”), for the disposal of MAAG’s entire holding of 132,151,497 ordinary shares in Turiya, representing its entire holding of 57.78% equity interest held in Turiya (“Sale Shares”)(“Turiya Shares”), at a cash consideration of RM0.40 per Sale Share or a total consideration of RM52,860,598.80 (“Disposal Consideration” or “Disposal Price”).

 

The Proposed Disposal has been completed today following MAAG’s disposal of the Sale Shares to the Purchasers at the Disposal Consideration via direct business transaction.  As such, MAAG no longer has any equity interest in Turiya.

 

Further details of the Proposed Disposal are set out as per the attachment


This announcement is dated 26 April 2024.




Please refer attachment below.



Announcement Info

Company Name MAA GROUP BERHAD
Stock Name MAA
Date Announced 26 Apr 2024
Category General Announcement for PLC
Reference Number GA1-25042024-00066



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