Share Sale Agreement Bursa Announcement

Under the umbrella of mergers and acquisitions, there are a large number of corporate structures. While they differ from sector to sector and sector to sector, the entire legal process and due diligence remain similar. Mergers and acquisitions essentially involve a purchase transaction between a buyer and seller for a business, business or asset. The complexity of the transaction, the volume of documents and the nature of authorizations and consents are the main differences between public and private procurement. With respect to the above issue, we refer to the announcement made by Iqzan on April 30, 2021. One of the main advantages of a share purchase M&A transaction in a company is that no transfer of ownership of assets is necessary. This can save the buyer money, since paying stamp duty for the transfer of real estate assets results in a higher stamp duty rate than a share transfer. In this type of acquisition, the buyer essentially acquires the company concerned, as well as all of its movable and immovable property, its employees and its company. It is also common for buyers (normally larger companies) to buy small businesses with certain authorizations and licenses (which may not be assigned). In such circumstances, the buyer acquires the target business, together with its existing authorizations and licenses, which allow the buyer to operate the proposed transaction through the acquired business. The Board of Directors (« Board ») of F&NHB wishes to announce that its direct subsidiary À 100% Awana Citra Sdn Bhd (« Awana Citra » or « the Buyer ») entered into an agreement on December 13, 2020 with Mr.

Siew Yun Sing and Mdm Tong Saw Man (both referred to as « Sellers »). with regard to the proposed acquisition. Subject to the terms of the share sale agreement, the total compensation for Sri Nona companies may be RM60,000,000 (the « counter-performance »). Share acquisition transactions for limited liability companies are also followed by a structured process normally defined in the share sale contract between the seller and the buyer. Most share sale contracts contain the following information and/or universal clauses in the event of the acquisition of a limited liability company:- the acquisition of companies and/or assets involves the purchase of the assets of a company and/or its activities without the purchase of shares in the company. In such cases, the appropriate transfer document or transfer instrument is required to transfer assets from one undertaking to another. The acquisition of assets or the sale of businesses would include assets, debts and contracts identified by the company through sales contracts. Companies that are acquired and have employment contracts and / or other contracts related to the operation must be awarded or renewed to the buyer. On the other hand, when the buyer acquires the shares of the target company, there is no need to transfer transactions or assets. The proposed acquisition will not have a material impact on R&N Group`s net property, plant and equipment or earnings per share for the current fiscal year. Fraser and Neave, Limited (the « Company » and, together with its subsidiaries, F&N Group) today adds, for information purposes, a voluntary communication from Bursa Malaysia (the « Bursa Communication ») of Fraser & Neave Holdings Bhd (« F&NHB »)) regarding the entry of its 100% direct subsidiary Awana Citra Sdn Bhd into a conditional share sale agreement for the acquisition of the total share capital issued by Sri Nona`s companies for the total remuneration of up to RM60 at the end of the year. 000,000.

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