Announcement Details/Table Section :
We wish to inform the Exchange that ASB had via its indirect wholly-owned subsidiary, HV Subang, (held via Alangka-Suka Hotels & Resorts Sdn Bhd, a wholly-owned subsidiary of ASB), entered into a Share Purchase and Obligation of Purchase Agreement (“Agreement”) on 2 June 2012 to acquire 40% equity interest in Arosa comprising 800 fully paid up registered shares of CHF500 each (“Shares”) for a cash consideration of CHF 4’157’002 (equivalent to RM13,718,107) from the existing shareholders of Arosa, namely Mr Jacques Rüdisser and Mrs Verena Maria Rüdisser (“Sellers”)(“Proposed Acquisition”).
The Agreement was entered into between HV Subang and Kibar Konsep Sdn Bhd (“Kibar Konsep”), a company related to a director of ASB, (hereinafter referred to as “Purchasers”) and the Sellers for HV Subang and Kibar Konsep to each acquire 800 Shares in Arosa representing 40% equity interest in Arosa.
Pursuant to the Agreement, HV Subang has also agreed to purchase 11.25% additional equity interest in Arosa comprising 225 Shares at CHF 5’314.29 per Share within a period of 5 years after execution of the Agreement (“Additional Purchase”). Upon completion of the Additional Purchase, HV Subang will hold a total of 1,025 Shares representing 51.25% equity interest in Arosa and Arosa shall become an indirect subsidiary of ASB held via HV Subang.
Please refer to the attachment for the full announcement.
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