| General Announcement for PLC |
| Reference No: |
GA1-08092023-00053 |
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| Company Name |
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ECM LIBRA GROUP BERHAD |
| Stock Name |
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ECM |
| Date Announced |
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08/09/2023 |
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| Type |
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Announcement |
| Subject |
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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS |
| Description |
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ECM Libra Group Berhad ("ECMLG")
- Proposed acquisition of entire equity interest in Desaru Beachfront 2
Sdn Bhd ("DB2SB") by ECM Libra Desaru Sdn Bhd ("ECML Desaru"), an
indirect wholly-owned subsidiary of ECMLG
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| The Board of Directors of ECMLG wishes to announce that on 8 September 2023, ECML Desaru had entered into a conditional share sale agreement with Desaru Development Holdings One Sdn Bhd for the proposed acquisition of 2 ordinary shares and 1,195,916 redeemable convertible preference shares, representing 100% equity interest in DB2SB for cash consideration of RM17,047,160.14 ("Proposed Acquisition of DB2SB").
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Please refer to the attachment for the details of the Proposed Acquisition of DB2SB.
This announcement is dated 8 September 2023.
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