News
Advance Synergy Berhad (1225-D) ("ASB") Proposed Disposal Of The Entire Issued And Paid-Up Share Capital Of United Merchant Finance Berhad ("UMF"), Comprising 229,000,000 Ordinary Shares Of RM1.00 Each To Southern Bank Berhad ("SBB") For Cash ("Proposed Disposal Of UMF")
BackSep 22, 2000
| General Announcement Reference No MM-000922-64986 |
| Submitting Merchant Bank | : | PERDANA MERCHANT BANKERS BERHAD |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 22/09/2000 |
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| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD (1225-D) ("ASB") Proposed Disposal Of The Entire Issued And Paid-Up Share Capital Of United Merchant Finance Berhad ("UMF"), Comprising 229,000,000 Ordinary Shares OF RM1.00 Each To Southern Bank Berhad ("SBB") For Cash ("Proposed Disposal OF UMF") |
Contents :
Further to our announcements made on 6 January 2000, 25 April 2000 and 8 June 2000, on behalf of the Board of Directors of ASB and United Merchant Group Berhad ("UMG") (a 50.75%-owned subsidiary of ASB), Perdana Merchant Bankers Berhad ("Perdana Bankers") is pleased to announce that in an exchange of letters on 21 September 2000, UMG and SBB have agreed that the actual consideration for the Proposed Disposal of UMF will be RM420 million based on the agreed Completion Net Tangible Assets of RM350 million. As the provisional consideration of RM319,414,800 was paid by SBB on 8 June 2000, the balance of the consideration of RM100,585,200 (including interest thereon) was duly paid by SBB to UMG on 21 September 2000.