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Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions

BackMar 17, 2017
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description

QL RESOURCES BERHAD (QL OR THE COMPANY) DISPOSAL OF EQUITY INTEREST IN QL KK PROPERTIES SDN. BHD. (QLKK) A WHOLLY OWNED SUBSIDIARY OF QL FEEDINGSTUFFS SDN. BHD. (QLF) TO A RELATED PARTY NAMELY RUBY TECHNIQUE SDN. BHD. (RT) FOR A CASH CONSIDERATION OF RM11,824,750

Pursuant to Paragraph 9.19 (24) and 10.08 (1) of the Bursa Malaysia Securities Berhad ("Bursa Securities') Main Market Lisitng Requirements ("Main LR"), the Board of Directors of QL, wishes to announce that on 17 March 2017, QL's wholly owned subsidiary, QL Feedingstuffs Sdn. Bhd. has entered into a Share Sale Agreement ("SSA") with its related party namely Ruby Technique Sdn. Bhd. to dispose of approximately 61.97% equity interest in QL KK Properties Sdn. Bhd. comprising of 2,330,000 ordinary shares ("QLKK Shares") for a cash consideration of RM11,824,750.

Please refer to the attachment for further details.

This announcement is dated 17 March 2017.

Please refer attachment below.


Announcement Info

Company Name QL RESOURCES BERHAD
Stock Name QL
Date Announced 17 Mar 2017
Category General Announcement for PLC
Reference Number GA1-17032017-00041

Attachments

  1. Disposal_QLKK.pdf (Size: 94,857 bytes)