Kuala Lumpur, 4 July 2016 : Nexgram Holdings Sdn Bhd today announce the completion of acquisition of Blue Hill Development Sdn Bhd by Nexgram land Sdn Bhd, a wholly-owned subsidiary of the company.
According to Bursa Malaysia announcement earlier, “pursuant to Rule 9.19(24) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Nexgram Holdings Berhad (“Board”) wishes to announce that Nexgram Land Sdn. Bhd. (“NLSB”), a wholly-owned subsidiary of the Company, had on 14 April 2016 entered into a conditional share sale agreement (“Agreement”) with Spacious Glory Sdn. Bhd. (“SGSB” or “Vendor”) to acquire 770,000 ordinary shares of RM1.00 each in Blue Hill Development Sdn. Bhd. (“Sale Shares”) (“Blue Hill”) from SGSB, representing 70% of the issued and paid up share capital of Blue Hill, for a total purchase consideration of RM12,500,000.00 (“Purchase Consideration”) (“the Acquisition”).”
The complimentary acquisition came with 13 years experienced construction and property development engineering team, as well as ready order books which shall generate positive income and revenue for the group in the near future.
Further details of the announcement could be found in Bursa Malaysia:
This announcement is dated 4 July 2016.
Nexgram Holdings Berhad (“Nexgram Group”) is a public listed investment holding company based in Kuala Lumpur, Malaysia. As of to date, it operates through the following segments: Telecommunication, Security & Surveillance, Software Development, Property Development, Industries, Business Advisories and Investment activities.