General Announcement for PLC
Reference No.: GA1-16022021-00044
Date Announced: 16 Feb 2021
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)|
RELATED PARTY TRANSACTIONS
|Description||Disposal of 20% equity interest in Hanwa Steel Centre (M) Sdn. Bhd.|
|Attachments||CHB-Disposal of Shareholdings in CSGT Metals Vietnam Joint Stock Company.pdf|
Pursuant to Paragraph 10.08(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of CSC Steel Holdings Berhad (“CHB” or the “Company”) wishes to announce that the Company together with CSGT International Corporation (“CIC”) (“Sellers”), had on 16 February 2021 entered into a Share Sale and Purchase Agreement (“SSPA”) with Hanwa Co. Ltd. ( “Purchaser”) for the disposal of CHB’s entire 8,000,000 ordinary shares of RM0.0158 each, representing 20% equity interest in Hanwa Steel Centre (M) Sdn. Bhd. (“HSCM”) for a consideration of RM126,400.00 (“Disposal Consideration”).
Upon completion of the Disposal, CHB together with CIC will not hold any shares in HSCM.
This announcement is dated 16 February 2021.