TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PALETTE MULTIMEDIA BERHAD ("PALETTE" OR "PURCHASER" OR "COMPANY") EXECUTION OF A TERM SHEET IN RELATION TO THE PROPOSED ACQUISITION OF 51% EQUITY INTEREST IN GENOPHARMA SDN BHD (GSB) ("PROPOSED ACQUISITION")
PALETTE MULTIMEDIA BERHAD
Type Announcement Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS Description PALETTE MULTIMEDIA BERHAD ("PALETTE" OR "PURCHASER" OR "COMPANY")
EXECUTION OF A TERM SHEET IN RELATION TO THE PROPOSED ACQUISITION OF 51% EQUITY INTEREST IN GENOPHARMA SDN BHD (GSB) ("PROPOSED ACQUISITION") The Board of Directors of Palette wishes to announce that it has on 24 November 2016 entered into a term sheet with Liao Chunhua, Liu Zhen and Tan Yi Wen (“collectively referred to as “Vendors”) in relation to the Proposed Acquisition (“Term Sheet”).
Please refer to the attachment for further details of the Proposed Acquisition.
KUALA LUMPUR (Nov 24): Palette Multimedia Bhd plans to diversify into traditional Chinese medicine (TCM) to expand its earnings base.
In a statement to Bursa Malaysia today, Palette Multimedia said it entered into a term sheet for the proposed acquisition of a 51% stake in Genopharma Sdn Bhd (GSB) for RM1.53 million. Palette said it had entered into the term sheet with GSB shareholders Liao Chunhua, Liu Zhen and Tan Yi Wen.
"GSB is principally involved in the trading of TCM, food and herbal supplement. Currently, the products of GSB are being sold at TCM clinics, pharmacies and chain stores. In addition, GSB also supplies herbal based medicines and supplements to hospitals and clinics in Malaysia.
"The proposed acquisition will enable Palette to expand its earnings base and to invest in a profitable business. Hence, the term sheet is to set the parameters of transaction and allow the parties to outline the terms and conditions, as well as their understanding and intention in respect of the proposed acquisition," Palette said.
Palette Multimedia said it would issue new shares in the company, as payment for the GSB stake.
Palette Multimedia's share trade was halted between 11:04 a.m. and 12:04 p.m. today, in conjunction with the announcement. At 12:30 p.m., the stock settled unchanged at seven sen, for a market value of RM22.37 million.
Pallette now very undervalue after hitting 11 sen this year ..... given the variety of great potential undertaken business - the fair value now should be 10 sen while the warrant Palette-WA should d be 6-7 sen UPSIDE JACKPOT POTENTIAL SEEN $$$$$$$$
anymore details on the agreement? If the guys (investors/traders) at Dnex/Censof saw this and how cheap this still is, anymore details might attract buyers.
1star as long as these kind of news are not accompanied with official figures, bursa announcements, or improving quarterly reports, don't take them as the reason to buy. The most recent one, is the kind of news that should be taken seriously.
For me, the delivery of equipment demonstrated an attractive revenue. If they can keep this up with a few more customers..definitely a jump of an improvement from a RM61k revenue from the last quarter.
In fact, after a quick scan of their quarterly reports summary, never in a quarter of a financial year, their revenue exceeded RM2.2 million. Most quarter reported less than a RM1 mill revenue. Keeping this on my watch.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
babypost85
365 posts
Posted by babypost85 > 2016-11-18 09:02 | Report Abuse
lol can see many ppl no confidence to palette....