The Board of Directors of Pentamaster Corporation Berhad ("PCB" or “the Company”) is pleased to announce that Pentamaster Equipment Manufacturing Sdn Bhd ("PEMSB” or the "Purchaser"), a wholly-owned subsidiary of Pentamaster International Limited (“PIL”), which in turn is a subsidiary of PCB in which PCB holds 63.46% equity interest, has on 3 November 2021 entered into a sale and purchase agreement (“SPA”) with the Penang Development Corporation ("PDC” or the "Vendor") for the proposed acquisition of a piece of leasehold land as detailed in Paragraph 3.1 (“the Land”) for a total cash consideration of Ringgit Malaysia Twenty Eight Million Two Hundred Seventy Nine Thousand Three Hundred and Four and Sen Thirty Five (RM28,279,304.35) (the “Purchase Price”) (hereinafter referred to as “the Proposed Acquisition”).
Please refer to the attachment for further details.
This announcement is dated 3 November 2021.