[PWROOT]: POWER ROOT BERHAD

29-Dec-2016

30-Dec-2016

No

Acquisitions

Acquisition by Power Root Berhad ("Power Root") of the following: (i) seven (7) ordinary shares of United Arab Emirates Dirham 100,000 each in Power Root ME FZCO ("PRMF") ("PRMF Shares"), an existing 77%-owned subsidiary company of Power Root, representing 14% of the equity interest in PRMF; and (ii) option granted to Wong Tak Keong ("Vendor"), giving the Vendor the right to require Power Root to purchase from the Vendor such number of PRMF Shares held by the Vendor at the date of exercise of such option, pursuant to a put option agreement dated 28 March 2014, from the Vendor for a total purchase consideration of approximately RM49.6 million, to be satisfied in full via the issuance of 24,200,000 new ordinary shares of RM0.20 each in Power Root ("Power Root Shares") at an issue price of RM2.0502 per Power Root Share.

24,200,000

Malaysian Ringgit (MYR) 2.050

Malaysian Ringgit (MYR) 0.200

329,291,185