Ann Joo Resources Bhd has completed the disposal of its entire equity interest in wholly owned subsidiary Ann Joo Steel Bhd to Green Esteel Pte Ltd following the receipt of RM150 million in completion proceeds.
The company said the disposal was completed on Sept 11, 2026 in accordance with the terms of the sale and purchase agreement.
The transaction involves the sale of 612.99 million ordinary shares in Ann Joo Steel, representing 100% of the subsidiary’s equity interest, to Green Esteel for cash.
The RM150 million received represents the completion amount under the agreement.
Ann Joo said a separate retention sum remains to be satisfied in accordance with the terms set out in the transaction circular.
