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KUALA LUMPUR: Reneuco Bhd has proposed to acquire Adat Sanjung Sdn Bhd (ASSB) for RM90mil from OHP Ventures Sdn Bhd (OVSB).

In a filing with Bursa Malaysia, Reneuco said its wholly-owned subsidiary Reneuco RE Sdn Bhd had entered into a conditional share sale agreement (SSA) with OVSB to acquire 10,000 ordinary shares in ASSB, representing the entire equity interest of the company.

Reneuco said the purchase consideration would be satisfied via a combination of a cash payment of RM20mil and the allotment and issuance of 318.18 million new ordinary shares in Reneuco at an issue price of RM0.22 per consideration share.

Simultaneously, OVSB will renounce up to 87.66 million consideration shares to E&E Catalyst Sdn Bhd (E&E Catalyst) for the acquisition by ASSB of the 10 million redeemable cumulative convertible preference shares owned by E&E Catalyst in One River Power Sdn Bhd (ORP) pursuant to the proposed acquisition.

The proposed acquisition will also entail the indirect acquisition of 70% equity interest in ORP, a feed-in approval holder of the development for three small hydro plants located in Kota Marudu, Sabah, Malaysia.


转载说明:本文转载自Sunbet。 USDT官网接口声明:该文看法仅代表作者自己,与本平台无关。转载请注明:Reneuco acquires Adat Sanjung for RM90mil
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