Under the exercise, ALB is selling its existing core logistics and warehousing business to its 50.25% owned Nylex (Malaysia) Bhd as part of the group restructuring.
Ancom Logistics will dispose of its unit Synergy Trans-Link Sdn Bhd, which is involved in warehousing and logistics, to Nylex at a valuation to be agreed by both parties.
At present, Ancom Logistics owns Pengangkutan Cogent Sdn Bhd, a company involved in transportation of liquid chemical business in Malaysia and Singapore; and 51% equity interest in Ancom ChemQuest Terminals Sdn Bhd, a company involved in building, owning, operating, leasing and managing a chemical tank farm in West Port, Port Klang.
Type Announcement Subject OTHERS Description PROPOSED FINAL DIVIDEND Ancom Berhad (“Ancom” or the “Company”) wishes to announce that the Company proposes a payment of final dividend for the financial year ended 31 May 2020 by way of distribution of up to 25,294,284 ordinary shares in Ancom Logistics Berhad ("ALB"), representing approximately 5.34% equity interest in ALB to the shareholders of the Company ("Proposed Dividend-In-Specie"), subject to the approval of the Company's shareholders at the forthcoming Annual General Meeting which will be held in due course.
Further details of the Proposed Dividend-In-Specie are in the document attached.
3.0 RATIONALE FOR THE PROPOSED DIVIDEND-IN-SPECIE The rationale for the Proposed Dividend-In-Specie are as follows: to reward the shareholders for their continuous support by providing them with an opportunity to invest directly in ALB at no cost; and to enable the shareholders to potentially benefit directly from the future performance of ALB*. As mentioned in 2.5 above, ALB has entered into a HOA with S7 Holdings Sdn Bhd, Merrington Assets Limited, MY E.G. Capital Sdn Bhd and Avocat Sdn Bhd for, inter-alia, the proposed acquisition of S5 Holdings Inc subject to valuation and based on terms and conditions to be agreed between the parties.
Ancom via its subsidiary entopest are in sanitising business for covid cases that affected building including shopping centre. High margin due to immediately need
It was oversold after ex date of warrants early September. Plus political uncertainty so some people who punt Ancom to ride along with ALB have sold off due to impatience. Investors who buy on Ancom's agrochem growth and profitability have been collecting patiently the past month.
Imminent NIIS plus ALB ex date approaching, should be a good boost to this uptrend. Cheers.
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....
jack663
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Posted by jack663 > 2020-09-17 19:01 | Report Abuse
5cen? Fuck, lose so much