News

The Board of Directors of MClean Technologies Berhad (“MClean” or “the Company”) wishes to announce that MClean Technologies Pte. Ltd. (“MTPL” or “Purchaser”) (Company Registration No. 200312425W), a wholly-owned subsidiary of MClean Precision Pte. Ltd. (“MPPL”) (formerly known as Magnetronics Technologies Pte. Ltd. (Company No. 200103673Z), which in turn is a wholly-owned subsidiary of the Company had on 30 June 2017 entered into a Conditional Sale and Purchase Agreement (“Agreement”) with Unisteel Technology Limited (“UTL”) (Company Registration No. 198803350D) and Medi-Flex Pte. Ltd. (“MFPL”) (Company Registration No. 200312754H) (collectively known as “Vendors”), for the acquisition of the entire issued and paid-up share capital of SGD2,020,000.00 comprising 2,020,000 ordinary shares of Sonic Clean Pte. Ltd. (“SCPL”) (Company Registration No. 200107287D) at an aggregate consideration of SGD2.00 (equivalent to approximately RM6.00) only, of which SGD1.00 shall be paid to each Vendor on completion of the terms as stated in Agreement (“Proposed Acquisition”).

The details of the Proposed Acquisition is set out in the attachment.

The announcement is dated 4 July 2017.