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Multiple Proposals

BackAug 18, 2017
Type Announcement
Subject MULTIPLE PROPOSALS
Description

IDEAL JACOBS (MALAYSIA) CORPORATION BERHAD ("IDEAL JACOBS" OR "COMPANY") (I) PROPOSED ACQUISITION; (II) PROPOSED DISPOSAL; (III) PROPOSED PLACEMENT; AND (IV) PROPOSED FREE WARRANTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

On behalf of the Board of Directors of Ideal Jacobs (“Board”), Kenanga Investment Bank Berhad (“Kenanga IB”) wishes to announce that Ideal Jacobs has entered into the following agreements today:

  1. conditional sale and purchase agreement with Widad Business Group Sdn Bhd ("Vendor") for the Proposed Acquisition; and
  2. conditional sale and purchase agreement with Oriental Dragon Incorporation Limited for the Proposed Disposal.

Upon completion of the Proposed Acquisition and Proposed Disposal, Ideal Jacobs and its subsidiaries will no longer be involved in manufacturing, fabrication and trading businesses, and will instead be principally involved in integrated facilities management and construction activities. Upon completion of the Proposed Acquisition, the Vendor will emerge as Ideal Jacobs’ new controlling shareholder.

In conjunction with the above, the Company also proposes to implement the Proposed Placement and Proposed Free Warrants.

Further information on the Proposals are set out in the attachment.

This announcement is dated 18 August 2017.

 

Please refer attachment below.

 


Announcement Info

Company Name IDEAL JACOBS (MALAYSIA) CORPORATION BHD
Stock Name IJACOBS
Date Announced 18 Aug 2017
Category General Announcement for PLC
Reference Number GA1-18082017-00070

Attachments

  1. Ideal_Jacobs_-_Proposals.pdf (Size: 622,270 bytes)