Resintech Berhad (KLSE:RESINTC) entered into a Memorandum of Understanding to acquire 30% stake in Bionutricia Holding Sdn Bhd from Ng Kuak Ping and Kong Siew Mee for MYR 8.7 million on March 10, 2022. The purchase consideration for the Acquisition of MYR 8.69 million shall be satisfied via a combination of MYR 4.75 million in cash and MYR 3.94 million via the issuance of 4 million new ordinary shares in Resintech. The consideration will be paid An earnest deposit of 0.25 million in cash on the signing of the MOU, subject to compliance with the Listing Requirements and approval from Bursa Securities, issuance of 4 million Consideration Shares
upon the signing of the Definitive Agreement and A cash payment of MYR 4 million by December 31, 2022 or the completion of the Proposed Acquisition and remaining cash payment of MYR 0.5 million within 30 days from the date of the relevant audited report to the satisfaction of Resintech. Resintech and the Controlling Shareholders agreed to negotiate and enter into definitive agreement for the proposed acquisition by Resintech of 30% equity interest in Bionutricia Holding from the Controlling Shareholders based upon the terms and conditions set out in the MOU. The transaction is suject to definitive agreement and listing/approval of new shares on stock exchange.

Resintech Berhad (KLSE:RESINTC) cancelled the Memorandum of Understanding to acquire 30% stake in Bionutricia Holding Sdn Bhd from Ng Kuak Ping and Kong Siew Mee on August 26, 2022.