The Board of Directors (“Board” or the “Directors”) of Texchem Resources Bhd. (“TRB”) wishes to announce that TRB has on 24 August 2011 entered into a conditional Share Sale Agreement (“SSA”) with Texchem Corporation Sdn. Bhd. (“Texcorp”), a major shareholder of TRB, for the acquisition of the entire issued and paid-up share capital of Technopia Sdn. Bhd. (“TSB”) comprising 272,075 ordinary shares (“Shares”) of RM1.00 each (par value) from Texcorp at a total purchase consideration of RM381,425.00 (“Purchase Consideration”) only (hereinafter referred to as the “Proposed Acquisition”).
Further details on the Proposed Acquisition are set out in the file attached below.
This announcement is dated 25 August 2011.