FLONIC - Circular/Notice to Shareholders
Announcement Type: PDF Submission
| Company Name | FLONIC HI-TEC BHD (ACE Market) |
| Stock Name | FLONIC |
| Date Announced | 25 Feb 2013 |
| Category | PDF Submission |
| Reference No | OS-130222-ED66D |
| Subject | ADDENDUM TO THE CIRCULAR TO SHAREHOLDERS IN RELATION TO THE • PROPOSED ACQUISITION OF 300,000 ORDINARY SHARES OF RM1.00 EACH IN JIWA HOLDINGS SDN BHD (“JIWA”) (“JIWA SHARES”) REPRESENTING 30% EQUITY INTEREST IN JIWA BY FLONIC FOR A TOTAL CASH CONSIDERATION OF RM3.75 MILLION (“PROPOSED ACQUISITION”); • PROPOSED OPTION TO ACQUIRE AN ADDITIONAL 210,000 JIWA SHARES REPRESENTING 21% EQUITY INTEREST IN JIWA FOR A TOTAL PURCHASE CONSIDERATION OF RM2,625,000 VIA A MODE OF SATISFACTION TO BE DETERMINED (“PROPOSED OPTION”); AND • PROPOSED DIVERSIFICATION OF THE PRINCIPAL ACTIVITIES OF FLONIC AND ITS SUBSIDIARIES TO INCLUDE PROJECT MANAGEMENT, INTERIOR FIT OUT, MANUFACTURING AND TRADING IN WOOD FURNITURE (“PROPOSED DIVERSIFICATION”) (COLLECTIVELY, THE “PROPOSALS”) ("CIRCULAR") |
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