Ta Win Holdings announced the entire disposal of ordinary shares Royce Pharma Manufacturing Bhd to Poly Laboratories Sdn Bhd and Jelita Serbaneka Sdn Bhd for a total consideration of RM20.850 million.
In a Bursa filing, it said that the disposal was made by its wholly-owned subsidiary TA Win Copper Biohealth Sd Bhd.
It said that the Vendors agree to sell Three Million Eight Hundred Ninety-Seven Thousand One Hundred and Ninety Seven (3,897,197) ordinary shares representing approximately 32.5% of the total issued and paid-up ordinary shares of Royce Pharma to the Purchasers in equal proportions free from all claims, charges, liens, encumbrances and equities whatsoever together with all rights attached thereto and all dividends, rights, and distributions declared for RM20.850 million
It said that the Proposed Disposal represents an opportunity for Ta Win to dispose of its healthcare and pharmaceutical business segment for a pricing term that is no less than favorable than its Original cost in the current challenging operating environment.
It said that disposal is deemed as a strategic reorganization plan to better realign the vision of Ta Win to become a prominent integrated one-stop copper-solutions provider in South East Asian region.
It said that the disposal of non-core business would enable Ta Win to focus on its strategic plan to develop its copper and copper-related businesses particularly its three major business segments: copper wire and cable, electrical and electronic and high-technological content signal and power solutions business.
