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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ANN JOO RESOURCES BERHAD ("AJR" OR "COMPANY")
PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN ANN JOO STEEL BERHAD ("AJSB" OR "TARGET COMPANY"), A WHOLLY-OWNED SUBSIDIARY OF AJR, COMPRISING 612,993,535 ORDINARY SHARES IN AJSB, TO GREEN ESTEEL PTE LTD ("GREEN ESTEEL" OR "BUYER") FOR CASH ("PROPOSED DISPOSAL")
ANN JOO RESOURCES BERHAD
Type
Announcement
Subject
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ANN JOO RESOURCES BERHAD ("AJR" OR "COMPANY")
PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN ANN JOO STEEL BERHAD ("AJSB" OR "TARGET COMPANY"), A WHOLLY-OWNED SUBSIDIARY OF AJR, COMPRISING 612,993,535 ORDINARY SHARES IN AJSB, TO GREEN ESTEEL PTE LTD ("GREEN ESTEEL" OR "BUYER") FOR CASH ("PROPOSED DISPOSAL")
(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as those defined in the Company's announcement in relation to the Proposed Disposal dated 22 May 2026)
On behalf of the Board of Directors of AJR, Maybank Investment Bank Berhad wishes to announce that following the completion of the audit by the Independent Accountant in accordance with the terms of the SPA, the Disposal Consideration has been computed based on the Agreed Pricing Formula and accordingly, deemed final and binding on the Parties.
The computation of the Disposal Consideration in accordance with the Agreed Pricing Formula is as follows:
RM
Agreed value of the non-current assets of the Target Group as at 31 December 2025 without the Excluded Assets and the Excluded Subsidiaries
1,005,000,000
Add:
Aggregate value of the current assets of the Target Group as at 30 April 2026(1)
607,057,239
Less:
Aggregate sum of the total liabilities of the Target Group as at 30 April 2026(1)
(1,322,057,239)
Disposal Consideration
290,000,000
Note:
(1) Excluding the current assets and total liabilities of AJSB Properties and AJSB Land collectively, which are wholly-owned subsidiaries of AJSB as at 31 December 2025. On 6 April 2026, AJSB had disposed its 100% equity interest in AJSB Properties and AJSB Land to AJMS, a wholly-owned subsidiary of the Company. The disposal of AJSB Properties and AJSB Land was completed on 29 April 2026.