PMC Group had entered into a conditional sale and purchase agreement with Inter Mark Resources Sdn Bhd to acquire the remaining 49% equity interest in A & W (Malaysia) Sdn Bhd for a purchase consideration of RM69,454,595.
The group aims to satisfy the purchase via a combination of cash payment of RM41,672,757 and the issuance of new ordinary shares in the group at an issue price of RM0.25 per Consideration Share.
PMC views the acquisition as a strategic move on the prospects of a promising F&B Business based on the historical performance of the F&B Business since the completion of the Initial Acquisition and the positive prospects of the fast-food market in Malaysia. It is optimistic that the proposed acquisition would contribute positively to the PMC Group’s earnings after taking into consideration the prospects of the A&W Group.
the group will be required to obtain its shareholders’ approval in the extraordinary general meeting for the proposed
diversification. It added that diversification will enable the PMC Group to grow the F&B Business which is an industry with a positive outlook.
