Shareholders Agreement Between Nextgreen Biomass Sdn Bhd, Greentech Malaysia Alliances Sdn Bhd, Koperasi Sahabat Amanah Ikhtiar Malaysia (KOOP SAHABAT) Berhad And Koperasi Perkhidmatan Setia Berhad

BackApr 05, 2023
Type Announcement
Subject OTHERS
Description NEXTGREEN GLOBAL BERHAD ("NEXTGREEN" OR "THE COMPANY") SHAREHOLDERS AGREEMENT BETWEEN NEXTGREEN BIOMASS SDN BHD, GREENTECH MALAYSIA ALLIANCES SDN BHD, KOPERASI SAHABAT AMANAH IKHTIAR MALAYSIA (KOOP SAHABAT) BERHAD AND KOPERASI PERKHIDMATAN SETIA BERHAD

Reference is made to the Company’s announcement made on 15 July 2022 and 3 April 2023.  All abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 15 July 2022 and 3 April 2023, where applicable, unless stated otherwise or defined herein.

 

The Board of Directors of Nextgreen wishes to announce the additional information as follows:

 

1.       The shareholdings structure of the SPV Company namely GTC Biomass Berhad is as follows:-

 

Name of Shareholders

Percentage (%) shareholding

NGBSB

65%

GTMASB

10%

KOOP SAHABAT

18%

KOSETIA

7%

Total

100%

 

2.         The tentative timeline for the building, developing and commissioning of twenty (20) Palm Oil Waste Collection and Processing Centres (“the Centres”) through Malaysia is expected to be completed within the next 7 years.  

 

3.         The Project shall be financed via internally generated funds, bank borrowings and/or fund-raising exercise.  As at todate, the combination of the source of funding has yet to be determined.

 

This announcement is dated 5 April 2023.

Announcement Info

Company Name NEXTGREEN GLOBAL BERHAD
Stock Name NGGB
Date Announced 05 Apr 2023
Category General Announcement for PLC
Reference Number GA1-05042023-00080