General Announcement

Reference No MI-131118-66297

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

18/11/2013

Type

:

Announcement

Subject

:

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
COMBINATION OF TRANSACTIONS

Description

:

IRE-TEX CORPORATION BERHAD (“ITCB” OR THE “COMPANY”)

• PROPOSED DISPOSAL;
• PROPOSED ZASB ACQUISITION;
• PROPOSED ZTSB ACQUISITION; AND
• PROPOSED DIVERSIFICATION

Attachments

:

Iretex - Proposals (Final).pdf

 

On behalf of the Board of Directors of ITCB, KAF Investment Bank Berhad wishes to announce that the Company is proposing to undertake the following:-
 

(a)

proposed disposal by Ire-Tex (Malaysia) Sdn Bhd, a wholly-owned subsidiary of ITCB, of a parcel of leasehold land known as Lot No. PT 3048 (Plot 118), Daerah Seberang Prai 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;
 

(b)

proposed acquisition by ITCB of the entire issued and paid-up share capital of Zoomic Automation (M) Sdn Bhd for a cash consideration of RM8,200,000;
 

(c)

proposed acquisition by ITCB of the entire issued and paid-up share capital of Zoomic Technology (M) Sdn Bhd for a cash consideration of RM16,800,000; and
 

(d)

proposed diversification of the business of ITCB and its subsidiaries into the provision of industrial automation solutions and services.
 
Kindly refer to the attached document for the complete announcement.

This announcement is dated 18 November 2013.