Asia Knight Berhad cancelled the conditional share sale agreement to acquire Rapid Growth Technology Sdn Bhd from Hor Lim Chee, Ng Choon Keat, Tan Song Chai, Lim Seat Hoe and Tan Ann Chee.
August 14, 2017
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Asia Knight Berhad (KLSE:AKNIGHT) entered into a conditional share sale agreement to acquire Rapid Growth Technology Sdn Bhd from Hor Lim Chee, Ng Choon Keat, Tan Song Chai, Lim Seat Hoe and Tan Ann Chee for MYR 88 million on April 5, 2016. The purchase consideration will be satisfied by way of a combination of cash amounting to MYR 58 million and rest by issues of shares. The Board of A-Knight had resolved to fund the Proposed Acquisition entirely from proceeds raise from the Proposed Rights Issue with Warrants and therefore will not undertake the Proposed Special Issue. The transaction is conditional upon due diligence investigations, shareholders’ approval of A-Knight for the Proposed Regularisation Plan, approval form Bursa Securities for the listing and other government, public or regulatory authorities or bankers of RGT whose approvals are considered necessary.
Asia Knight Berhad (KLSE:AKNIGHT) cancelled the conditional share sale agreement to acquire Rapid Growth Technology Sdn Bhd from Hor Lim Chee, Ng Choon Keat, Tan Song Chai, Lim Seat Hoe and Tan Ann Chee on August 14, 2017.
RGT Berhad is a Malaysia-based investment holding company. The Company operates through two segments: Engineered Polymer Products, and Factory Automation and Precision Engineering. The Engineered Polymer Products segment is engaged in the designing, manufacturing and sale of high precision engineered polymer products including full assembly and related accessories. The Factory Automation and Precision Engineering segment is engaged in the designing, manufacturing and sale of automated machinery, high precision metal parts, components and related accessories. The Company provides services as an original design manufacturer for engineered polymer products in addition to manufacturing products based on designs and specifications provided by its customers. It offers value-added service in the form of product design to its existing and new customers and also new markets, not only in the hygiene care and air-care, but also in the automotive, medical and consumer products.
Asia Knight Berhad cancelled the conditional share sale agreement to acquire Rapid Growth Technology Sdn Bhd from Hor Lim Chee, Ng Choon Keat, Tan Song Chai, Lim Seat Hoe and Tan Ann Chee.