KUALA LUMPUR: Ann Joo Resources Bhd
has entered into a conditional sale and purchase agreement (SPA) with Green Esteel Pte Ltd to dispose of its entire equity interest in Ann Joo Steel Bhd (AJSB), after mutually terminating an earlier heads of agreement with Southern Steel Bhd.
In a filing with Bursa Malaysia, Ann Joo said the proposed disposal involves 612.99 million ordinary shares in AJSB, representing a 100% stake, for a cash consideration to be determined based on an agreed pricing formula.
