Shares in Farm Fresh closed unchanged at RM1.59, giving the group a market capitalisation of RM2.95 billion.
The Penguins made the playoffs for 16 consecutive seasons from 2007-22. The meaning of THE SCOOP is information about something that is currently important or happening or that is interesting to many people. The acquisition, which is expected to be completed by the second quarter of this year, is subjected to approvals from Farm Fresh’s shareholders and Bursa Malaysia Securities. by Michelle Crechiolo PensInsideScoop / Penguins Team Reporter. “Our board, after careful deliberation and taking into account the benefits and opportunities presented under the proposals, is of the view that it is in the best interest of our group to prioritise the proposals over the expansion of the production facility,” it added. This as it sees the acquisition to be consistent with its future plans, and will pave the way to own “one of the fastest growing artisanal ice creameries and largest home-grown ice-cream chain in Malaysia”. This comprises RM55.15 million originally earmarked for its production facility expansion in Australia, and another RM8.76 million as part of the funding to establish its new manufacturing hub, dairy farm and processing facility in Malaysia. In total, the cash portion amounts to RM63.91 million. Concurrent with the proposals, Farm Fresh said in a separate filing that it fund the deal by varying the utilisation of the proceeds from its initial public offering (IPO). It added that it will grant Tan the right to require the group to purchase the remaining TISSB shares held by him. TISSB will then become a 65%-owned subsidiary of Farm Fresh, with the remaining 35% interest held by Tan, said Farm Resh in a bourse filing. Delivery & Pickup Options - 66 reviews of Inside Scoop 'I think this place is by far the best non-fast food locale in the area. Subsequently, Farm Fresh will also ink a share subscription agreement with TISSB to acquire 12% of the enlarged issued TISSB shares for RM15.5 million. THE INSIDE SCOOP 260 WALLACE ROAD, BEDFORD NH (603) 471-7009 Open 8:00 AM - 12:00 PM EDT Scoop Coffee Small Hot Coffee 2.40 We have regular, decaf, maple walnut, caramel crunch, and almond joy Medium Hot Coffee 2.70 We have regular, decaf, maple walnut, caramel crunch, and almond joy Large Hot Coffee 3.
Of this purchase price, RM48.4 million will be paid in cash, while the remaining RM20 million will be satisified via the issuance of 13.16 million new shares in Farm Fresh, at an issue price of RM1.52 apiece. The dairy producer said it will first acquire a 53% stake from the chain's existing shareholders for RM68.4 million. The shareholders are TISSB co-founder Edmund Tan Jun Hua (61% interest), Derrick Wu (37.9% interest) and Harsh Rajpal (1.1% interest). KUALA LUMPUR (Feb 15): Farm Fresh Bhd has proposed to take up a 65% stake in ice cream chain The Inside Scoop Sdn Bhd (TISSB) for RM83.9 million. The Inside Scoop on Eating Disorder Recovery is a fresh, smart, how-to book that helps people with eating disorders to heal their relationship with food.
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