PETALING JAYA: Euro Holdings Bhd
’s wholly owned subsidiary, Eurosteel Line Sdn Bhd, has entered into a conditional sale and purchase agreement with Supreme Power Auto Sdn Bhd (SPASB) for the proposed acquisition of leasehold industrial land in Melaka Tengah with four industrial buildings from SPASB worth RM56mil.
In a filing with Bursa Malaysia, Euro said the proposed acquisition will be satisfied from a combination of cash of RM38mil and issuance of 400 million new ordinary shares in Euro at an issue price of 4.5 sen.
Euro has also proposed a private placement of up to 331.99 million new shares, representing 25% of its total issued shares, at an issue price to be determined later, and a renounceable rights issue of up to 2.62 billion new shares on the basis of one rights share for every one existing share. — Bernama
