| BRAHIM’S HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | BRAHIM’S HOLDINGS BERHAD (“BHB” OR THE “COMPANY”)
(I) PROPOSED ACQUISITION OF THE ENTIRE 100% EQUITY INTEREST IN RANCAK SELERA SDN BHD (“RANCAK SELERA”) BY BRAHIM’S TRADING SDN BHD (“BTSB”) TOGETHER WITH QUANTUM ANGEL SDN BHD (“QUANTUM ANGEL”) FOR A TOTAL CASH CONSIDERATION OF RM95,000,000 (“PROPOSED ACQUISITION”) (II) PROPOSED JOINT VENTURE BETWEEN BTSB WITH QUANTUM ANGEL TO INCORPORATE A SPECIAL PURPOSE VEHICLE (“SPV”) PURSUANT TO THE PROPOSED ACQUISITION WHEREBY BTSB WOULD HOLD UP TO 80% EQUITY INTEREST IN THE SPV (“PROPOSED JOINT VENTURE”) (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) |
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On behalf of the Board of Directors of BHB, Hong Leong Investment Bank Berhad wishes to announce that BHB, via its wholly-owned subsidiary, BTSB together with Quantum Angel had on 26 November 2014 entered into a conditional share sale agreement with Integrated Food Group Sdn Bhd and E-Cap (Internal) Two Sdn Bhd for the acquisition of the entire 100% equity interest in Rancak Selera for a total cash consideration of RM95,000,000. Pursuant to the Proposed Acquisition, BTSB together with Quantum Angel will incorporate a SPV whereby BHB would hold up to 80% equity interest in the SPV while Quantum Angel will hold the remaining 20%. Further details of the Proposals are set out in the attachment below. This announcement is dated 26 November 2014. |
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