Hextar Global Bhd proposes to acquire 100 ordinary shares representing 100% of the issued and paid-up share capital Of Hextar Kimia Australia From Hextar Kimia Sdn Bhd, a 49% subsidiary of Hextar Global Bhd for RM14.3 million.
Upon execution of the SSA, the Deposit of RM1,430,000 equivalent to 10% of the Purchase Price shall be paid by Hextar to the Vendor’s solicitors and the balance purchase price of RM12,870,000 shall be paid by Hextar upon receipt by Hextar’s Solicitors of the document(s) evidencing that the transfer of the Sale Shares has/have been registered in favour of the Purchaser or its nominee(s).
It said that following the company’s recent diversification into the specialty chemical sector, the proposed acquisition will further expand the company’s foothold in the Australian market to include the oil and gas, and agrochemicals sectors. The Proposed Acquisition is expected to be completed by the second quarter of 2022.
