TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ACQUISITION OF SHARES IN DWL RESOURCES BERHAD (FORMERLY KNOWN AS SPRING GALLERY BERHAD)
The Board of Directors of Gadang Holdings Berhad (“Gadang” or the “Company”) wishes to announce that the Company had on 26 April 2019 acquired 20,000,000 ordinary shares in DWL Resources Berhad (formerly known Spring Gallery Berhad) (“DWL” or DWL Shares”) representing approximately 10% of the total issued shares of DWL for a total cash consideration of RM18.00 million or at RM0.90 per DWL Share (“Purchase Price”) via a direct business transaction (“Acquisition”). The Acquisition was funded by internally generated funds of the Company.
After this acquisition, Gadang became the 2nd largest shareholder in DWL. If look carefully the 30 largest shareholders in DWL latest AR, will see that there is one shareholder named "Green Packet Holdings Ltd" also held DWL shares about 3.44mil units or 1.73%. Who's the Green Packet Holdings Ltd? They are the largest shareholder of Green Packet Berhad, which deemed as their ultimate holding company. Any relationship between Green Packet Berhad and Gadang? Yeah, Kok Onn and Boey Tak Kong are the non-executive directors of Green Packet Berhad~~
Gg lor, partner with a forever loss making company, poor gadang, need to carry weakling, any profit will be eaten by dwl, ultimate winner will be their director
Got hints meh? I no see... 80 sen? I will CL if 0.86... Monday blue... Hehe
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Posted by riskabsorber > 2019-04-26 09:54 | Report Abuse
next week will get. now no hurry to rush in to catch the falling knife