TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) - RELATED PARTY TRANSACTIONS
P.I.E. INDUSTRIAL BERHAD (“PIB” OR “THE COMPANY”)
ACQUISITION OF MACHINERIES BY PAN-INTERNATIONAL ELECTRONICS (MALAYSIA) SDN. BHD., A WHOLLY SUBSIDIARY OF PIB (THE “ACQUISITION”) AT A TOTAL CONSIDERATION OF RM972,318.68
The Board of Directors of PIB wishes to announce that Pan-International Electronics (Malaysia) Sdn. Bhd. (“PIE”) a wholly-owned subsidiary of PIB, has acquired the machineries as detailed in Section 3.0 herein, at a total aggregated consideration of RM972,318.68 only (the “Purchase Consideration”) [the “Acquisition”]. Details on the Acquisition are set out in the attachment enclosed.
This announcement is dated July 12, 2013.