Ancom Berhad has received SSM approval for the name change to Ancom Nylex after it had acquired a majority stake in the company,
In its Bursa filing the chemical company referred to its announcement dated 30 September 2021 in relation to the proposed change of name which it had received the notice of registration of new name dated 5 April 2022 issued by the Companies Commission of Malaysia (SSM).
Accordingly, it said the name of the company has been changed from Ancom Berhad to Ancom Nylex Berhad with effect from 5 April 2022.
Ancom had in January 2022 finalised the acquisition of all assets and liabilities of Nylex for a purchase consideration of RM179.3 million which was satisfied via a combination of cash and new issuance of 31.1 million new Ancom shares. The new Ancom shares are set to be listed on 24 March 2022 which will bring the total outstanding shares of Ancom to 284.6 million. Nylex, meanwhile, is now classified as a Cash Company.