The Board of Directors of Fajarbaru Builder Group Bhd (“FBG”) is pleased to announce that BFB Project Pty Ltd (“BFB”), an associate company of Fajarbaru Land (M) Sdn Bhd (“FLM”), a wholly-owned subsidiary of FBG, has on 26 May 2023 entered into a Subscription Agreement with Beulah FB Investment Pty Ltd (“BFI”), Mr. Chan Jiaheng (as Guarantor) and Makarios Investments Trust (“MIT”) (as Corporate Guarantor) to subscribe for 14,626,463 fully-paid preference shares at an issue price of AUD1.00 per subscription share, in the share capital of BFI, totalling AUD14,626,463.00 (Australian Dollar Fourteen Million Six Hundred Twenty Six Thousand Four Hundred Sixty Three Only) [“Preference Share Subscription”].
Further details on the Preference Share Subscription are set out in the attachment.
This announcement is dated 26 May 2023.