Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 03 May 2024
Category: General Announcement for PLC
Reference Number: GA1-03052024-00030
Type: Announcement
Subject: OTHERS
Description: Internal Reorganization of Pharmaceutical and Healthcare Division
The Board of Directors of Kobay Technology Bhd. (“Kobay” or “the Company“), wishes to announce that the Company had on 3 May 2024 completed the internal reorganization of its Pharmaceutical and Healthcare Division.
Kobay, Lim Beng Cheong, Chong Huei Shin, Tan Kim Fah and Tee Yee May (collectively referred to as “Sellers”) had on 9 April 2024, entered into a Share Swap Agreement with Avelon Healthcare Group Sdn. Bhd. (“AHGSB” or “Purchaser”) to dispose their entire equity interests in Avelon Healthcare Sdn. Bhd., Galaxy Healthcare Sdn. Bhd., Avelon Arise Sdn. Bhd. and Arise Healthcare Sdn. Bhd. (collectively referred to as “Subject Companies”), to AHGSB, a 70.0% owned subsidiary of Kobay, for an aggregate disposal consideration of RM22,580,536 to be satisfied by way of issuance of 205,277,600 new ordinary shares in AHGSB at an issue price of RM0.11 per AHGSB Share (“Internal Reorganization”).
For further details, kindly refer to the attachment.
This announcement is dated 3 May 2024.
Please refer attachment below.
Attachments :
Bursa Announcement_Internal Reorganization_3May2024.pdf