VERDE RESOURCES, INC. (VRDR): M&A transaction — Verde Resources sells mining subsidiary Champmark Sdn Bhd for MYR 500,000

VERDE RESOURCES, INC.

Completed sale of entire issued capital of Champmark Sdn Bhd (CSB) to Jusra Mining Merapoh Sdn Bhd on April 20, 2023.
Consideration of MYR 500,000 (approx. $109k USD) satisfied in full.
CSB was an indirect wholly-owned subsidiary of Verde Resources engaged in the mining business.
Transaction executed via Verde Resources Asia Pacific Limited (VRAP), a BVI subsidiary.
No material financial impact or gain/loss disclosed in the filing.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

VERDE RESOURCES, INC. completed a disposition involving Jusra Mining Merapoh Sdn Bhd for Malaysia Ringgit MYR 500,000 (closed 2023-04-20).

Action: disposition
Counterparty: Jusra Mining Merapoh Sdn Bhd
Consideration: Malaysia Ringgit MYR 500,000
Closing: 2023-04-20

Exact text from the filing

Under the terms of the SSA Agreement, the consideration for the sale of the entire issued and paid-up share capital of CSB shall be satisfied in full by the payment of Malaysia Ringgit MYR 500,000. The disposition of CSB was completed on April 20, 2023.

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Source: SEC EDGAR

accession 0001640334-23-000700

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