ANNUAL REPORT 2016
84
Techno
Dex
Berhad
(627634-A)
35. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (continued)
(c) On 1 October 2015, Idealseed Resources Sdn. Bhd. (“IRSB”) entered into a short-term loan facility with
Technodex Berhad (“TB”) to provide finance of RM 400,000 to IRSB. This loan facility bore interest rate of 6%
per annum on the first 3 months from the effective date and subsequently 2% per month on the outstanding
balances.
(d) On 1 October 2015, Idealseed Resources Sdn. Bhd. (“IRSB”) entered into a short-term loan facility with
Technodex Solutions Sdn. Bhd. (“TSSB”) to provide finance of RM 700,000 to IRSB. This loan facility bore
interest rate of 24% per annum on the first 4 months from the effective date and subsequently 2% per month
on the outstanding balances.
36. SUBSEQUENT EVENTS AFTER THE BALANCE SHEET DATE
(a) On 12 May 2016, the Group acquired and subscribed a total of 2 ordinary shares of RM 1 each in Hotelsurfs
Sdn. Bhd. representing 100% of the enlarged issued and paid-up share capital for a total cash consideration
of RM 2.
(b) On 26 May 2016, the Group acquired and subscribed a total of 2 ordinary shares of RM 1 each in Surfstek
Innovation Sdn. Bhd. representing 100% of the enlarged issued and paid-up share capital for a total cash
consideration of RM 2.
(c) On 29 June 2016, the Company announced the issue price for shares to be issued for the private placement
of up to 10% of the issued and paid-up share capital of the Company. The issue price to be fixed at RM 0.105
per placement share, representing a premium of 5% or RM 0.005 of the par value of the ordinary shares of
the Company of RM 0.10 each and a discount of approximately 8.7% over five day volume weighted average
market price of Company’s shares up to and including 28 June 2016 of RM 0.115 per company’s share.
(d) On 1 July 2016, The Company increased its paid up capital from RM 37,539,390 to RM 41,293,329 by an
allotment of 37,539,390 ordinary shares of RM 0.10 each pursuant to the private placement at an exercise
price of RM 0.105 per share.
The new ordinary shares issue rank pari passu in all respects with the existing shares of the Company.
NOTES TO THE
FINANCIAL STATEMENTS
(continued)
