D’Nonce to diversify into self-adhesive labels manufacturing after Komark acquisition
11 Aug 2022
D’Nonce Technology Bhd (DTB) has proposed to acquire the entire stake in Komark (Thailand) Company Ltd for RM9.1 million from Komarkcorp Bhd’s wholly-owned subsidiary, General Labels & Labelling (M) Sdn Bhd, and diversify its business into the manufacturing and selling of self-adhesive labels.
“The company envisages that the contribution arising from the proposed acquisition will be more than 25 per cent of the net assets and/ or net profits of the group in the future,” it said in a filing to Bursa Malaysia today.
DTB Group is principally involved in end-to-end packaging and design solutions; precision polymer engineering services; cleanroom and contract manufacturing services; and supply chain management and sales and distribution of products.
Meanwhile, DTB has also proposed a renounceable rights issue of up to 434.69 million shares on the basis of one rights share for every one existing share held on an entitlement date to be determined later.
“We have also proposed to terminate the company’s existing employees’ share option scheme,” it added.