Future NRG Sdn Bhd entered into a share purchase agreement to acquire 12.97% stake in AHT Syngas Technology N.V from Cupido Beteiligungs Gmbh and Matthias Kuhnel for €0.2 million.

Future NRG Sdn Bhd entered into a share purchase agreement to acquire 12.97% stake in AHT Syngas Technology N.V from Cupido Beteiligungs Gmbh and Matthias Kuhnel for €0.2 million in cash on July 22, 2015. Under the terms of the deal, Future NRG will acquire 0.1 million shares from Matthias Kuhnel and 0.03 million shares from Cupido Beteiligungs respectively. In a related transaction, Future NRG will subscribe 0.47 million shares of AHT Syngas.

The purchase consideration is expected to be funded by internally generated funds. The transaction is not subject to any approval from shareholders or relevant authorities. The Board of Directors is of the opinion that the transaction is in the best interests of Fitters Diversified Berhad's, parent of Future NRG.

The deal is expected to be completed by August 5, 2015. The transaction is expected to have positive contribution to Fitters Diversified Berhad's earnings and will not have any effect on the issued and paid-up share capital of Fitters Diversified Berhad as the consideration is satisfied entirely by cash. The deal is not expected to have any material effect on the earnings, net assets and Gearing of Fitters Diversified Berhad and its subsidiaries for the financial year ending December 31, 2015.