TEXCHEM - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):RELATED PARTY TRANSACTIONS
| Company Name | TEXCHEM RESOURCES BERHAD |
| Stock Name | TEXCHEM |
| Date Announced | 1 Jul 2013 |
| Category | General Announcement |
| Reference No | TR-130701-61035 |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | TEXCHEM RESOURCES BHD. ("COMPANY" OR "TRB") ACQUISITION OF ADDITIONAL 3,667,339 ORDINARY SHARES OF RM1.00 EACH (“SHARES”) IN TEXCHEM CORPORATION SDN. BHD. (“TEXCORP”) BY TRB FROM VARIOUS SHAREHOLDERS AND TEXCHEM HOLDINGS SDN. BHD. (“THSB”) AT A TOTAL PURCHASE CONSIDERATION OF RM6,124,455.70 (AT RM1.67 PER SHARE)("ACQUISITION") |
The Board of Directors (“Board” or the “Directors”) of TRB wishes to announce that on 1 July 2013, the Company has issued a Letter of Offer to THSB, a major shareholder of TRB, to acquire 2,931,169 ordinary shares of RM1.00 each in Texcorp at a total purchase consideration of RM4,895,052.20 (“Offer”), which Offer was duly accepted by THSB on even date. Details of the Acquisition is set out in the attachment to this announcement. On 17 June 2013, the Company has also issued Letters of Offer to various shareholders of Texcorp, all of whom are unrelated parties, to purchase the shares held by such shareholders in Texcorp, the details of the offer and acceptance are set out in the attachment to this announcement. The aforesaid transactions are collectively referred to as "Acquisition".
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