PDF Submission

Reference No MI-140312-73139

Company Name

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IRE-TEX CORPORATION BERHAD

Stock Name

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IRETEX

Date Announced

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13/03/2014

 
Circular/Notice to Shareholders

IRE-TEX CORPORATION BERHAD

 

Subject

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CIRCULAR TO SHAREHOLDERS IN RELATION TO THE:-

PART A

(I) PROPOSED DISPOSAL BY IRE-TEX (MALAYSIA) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF IRE-TEX CORPORATION BERHAD (“ITCB”), OF A PARCEL OF LEASEHOLD LAND KNOWN AS LOT NO. PT 3048 (PLOT 118), DAERAH SEBERANG PERAI TENGAH, MUKIM 11, PULAU PINANG HELD UNDER HS(D) NO. 40119 (FORMERLY KNOWN AS HS(D) NO. 3644) TOGETHER WITH THE PREMISES ERECTED THEREON, TO TRITON PRESTIGE SDN BHD FOR A CASH CONSIDERATION OF RM24,500,000;

(II) PROPOSED ACQUISITION BY ITCB OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF ZOOMIC AUTOMATION (M) SDN BHD FROM TEH ENG HUAT AND KHOO HUN SNIAH FOR A CASH CONSIDERATION OF RM8,200,000 (“PROPOSED ZASB ACQUISITION”), SUBJECT TO ADJUSTMENTS (IF ANY) PURSUANT TO THE TERMS OF THE SALE AND PURCHASE AGREEMENT PERTAINING TO THE PROPOSED ZASB ACQUISITION;

(III) PROPOSED ACQUISITION BY ITCB OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF ZOOMIC TECHNOLOGY (M) SDN BHD FROM TEH ENG HUAT AND KHOO HUN SNIAH FOR A CASH CONSIDERATION OF RM16,400,000 (“PROPOSED ZTSB ACQUISITION”), SUBJECT TO ADJUSTMENTS (IF ANY) PURSUANT TO THE TERMS OF THE SALE AND PURCHASE AGREEMENT PERTAINING TO THE PROPOSED ZTSB ACQUISITION; AND

(IV) PROPOSED DIVERSIFICATION OF THE BUSINESS OF ITCB AND ITS SUBSIDIARIES INTO THE PROVISION OF INDUSTRIAL AUTOMATION SOLUTIONS AND SERVICES, THE PROVISION OF TURNKEY SOLUTIONS TO, AMONGST OTHERS, ELECTRICAL & ELECTRONIC INDUSTRIES AND MANUFACTURE OF, INTER ALIA, TOOLING PARTS, JIGS AND FIXTURES FOR USE IN MANUFACTURING INDUSTRIES

PART B

INDEPENDENT ADVICE LETTER FROM INTER-PACIFIC SECURITIES SDN BHD TO THE NON-INTERESTED SHAREHOLDERS OF ITCB IN RELATION TO THE PROPOSED ZASB ACQUISITION AND THE PROPOSED ZTSB ACQUISITION

 
Attachments
                                                                         

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Ire-Tex - Circular (Part 1).pdf

Ire-Tex - Circular (Part 2).pdf