TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS BCM ALLIANCE BERHAD ("BCM" OR "COMPANY") - PROPOSED SUBSCRIPTION OF 133,333 NEW ORDINARY SHARES IN FOODICT MAKER SDN BHD ("FOODICT"), REPRESENTING 25% ENLARGED EQUITY INTEREST OF FOODICT BY BCM ("PROPOSED SUBSCRIPTION"); AND - PROPOSED ACQUISITION FROM LEE CHIN FONG, LEE BENG WAI AND HSU FENG CHIH OF A TOTAL OF 138,667 EXISTING ORDINARY SHARES REPRESENTING 26% ENLARGED EQUITY INTEREST IN FOODICT BY BCM ("PROPOSED ACQUISITION") (COLLECTIVELY "PROPOSED TRANSACTIONS")

BCM ALLIANCE BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
BCM ALLIANCE BERHAD ("BCM" OR "COMPANY")

- PROPOSED SUBSCRIPTION OF 133,333 NEW ORDINARY SHARES IN FOODICT MAKER SDN BHD ("FOODICT"), REPRESENTING 25% ENLARGED EQUITY INTEREST OF FOODICT BY BCM ("PROPOSED SUBSCRIPTION"); AND 

- PROPOSED ACQUISITION FROM LEE CHIN FONG, LEE BENG WAI AND HSU FENG CHIH OF A TOTAL OF 138,667 EXISTING ORDINARY SHARES REPRESENTING 26% ENLARGED EQUITY INTEREST IN FOODICT BY BCM ("PROPOSED ACQUISITION")

(COLLECTIVELY "PROPOSED TRANSACTIONS")

(Unless otherwise defined, all definitions and terms used in this announcement shall have the same meaning as defined in the previous announcements in relation to the Proposed Transactions)

We refer to the announcements dated 3 September 2019, 31 October 2019, 29 November 2019 and 30 March 2020 in relation to the Proposed Transactions.

On behalf of the Board, M&A Securities wishes to announce that the Subscription Agreement and SPA has been terminated due to non-fulfillment of conditions precedent by the extended cut-off date of 1 June 2020 (“Cut-off Date”) as stipulated in the Subscription Agreement and SPA (“Termination”). Pursuant to the Termination, the Subscription Agreement and SPA shall be null and void and of no further effect whatsoever.

For the avoidance of doubt, consequential to the termination of the Subscription Agreement and the SPA, the SHA and the Profit Guarantee Agreement shall be terminated forthwith and be null and void and of no further effect whatsoever.

Please refer to the attachment for further details.

This announcement is dated 2 June 2020.



Announcement Info

Company Name BCM ALLIANCE BERHAD
Stock Name BCMALL
Date Announced 02 Jun 2020
Category General Announcement for PLC
Reference Number GA1-02062020-00048


Please refer attachment below.

  1. 020620 - BCM - Termination.pdf