| Type | Announcement |
| Subject | OTHERS |
| Description | MBM Resources Berhad (“MBMR” or “the Company”) PROPOSED ACQUISITION OF26,985,030 ORDINARY SHARES OF RM1.00 EACH IN KINABALU MOTOR ASSEMBLY SDN. BHD. (“KMASB”)VIA THE EXECUTION OF (I) CONDITIONAL SHARE SALE AND PURCHASE AGREEMENT DATED 14 OCTOBER 2010; AND (II) SUPPLEMENTARY AGREEMENT DATED 28 FEBRUARY 2011; WITH LION CORPORATION BERHAD AND LIONFOREST INDUSTRIES BERHAD, BEING VENDORS FOR KMASB’S SHARES(HEREINAFTER REFERRED TO AS “PROPOSED ACQUISITION OF KMASB”) |
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The announcements made on the above matter on 14 October 2010, 13 January 2011, 28 February 2011 and 13 April 2011 refers. The Board of Directors of MBMR wishes to inform that following the procurement of the approval of the Ministry of International Trade and Industry for the Proposed Acquisition of KMASB, being the only condition precedent to be fulfilled, the entire Purchase Consideration amounting to RM2.00 for the proposed acquisition of 26,985,030 ordinary shares in KMASB has been paid to the Vendors. Arising thereto, the Proposed Acquisition of KMASB has been completed today (“Completion Date”) and with effect from 3 June 2011, KMASB is a 70.01% owned subsidiary of the Company. The Debt Settlement Consideration of RM13 million shall be paid to the creditors of the Company within twenty three (23) Business Days from the Completion Date. This announcement is dated 3 June 2011. |
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| Company Name | MBM RESOURCES BHD |
| Stock Name | MBMR |
| Date Announced | 3 Jun 2011 |
| Category | General Announcement |
| Reference No | CMS-110602-DFAE4 |
