TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS THREE-A RESOURCES BERHAD (3A OR THE COMPANY) PROPOSED DISPOSAL OF THE ENTIRE 50% EQUITY INTEREST HELD BY THREE-A FOOD INDUSTRIES (M) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, IN THREE-A (QINHUANGDAO) FOOD INDUSTRIES CO. LTD TO YIHAI KERRY INVESTMENTS CO. LTD.

Date announced : 5 Sep 2017
Type : Announcement
Subject : TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description : THREE-A RESOURCES BERHAD (3A OR THE COMPANY) PROPOSED DISPOSAL OF THE ENTIRE 50% EQUITY INTEREST HELD BY THREE-A FOOD INDUSTRIES (M) SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, IN THREE-A (QINHUANGDAO) FOOD INDUSTRIES CO. LTD TO YIHAI KERRY INVESTMENTS CO. LTD.

Pursuant to Paragraph 10.08 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Board of Directors of 3A wishes to announce that Three-A Food Industries (M) Sdn Bhd (“TAFISB”), a wholly-owned subsidiary of the Company, has on 5 September 2017 entered into a Share Purchase Agreement (“SPA”) with Yihai Kerry Investments Co. Ltd. (“YKI” or “Purchaser”), a wholly-owned subsidiary of Wilmar International Limited ("WIL"), for the proposed disposal of the entire 50% equity interest held by TAFISB in Three-A (Qinhuangdao) Food Industries Co. Ltd (“TAQ”) (“Sale Shares”) for RMB5,000,000.00 [equivalent to RM3,263,000 , based on the exchange rate of RMB1:RM0.6526 as at 5 September 2017] ("Consideration")("Proposed Disposal").

Upon completion of the Proposed Disposal, TAQ will cease to be a joint venture company of 3A.

Please refer to the attachment for further details.

Attachment(s) : Three-A Resources Bhd Circular RRPT 3A-Proposed Disposal of shares in TAQ by TAFISB-5.9.2017.pdf

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