Annica Holdings to purchase waste tyre plant in Malaysia

The total consideration for the acquisition is $2.7m.

Annica Holdings has entered into a conditional asset purchase agreement to acquire GPL Industries' waste tyre pyrolysis plant in Malaysia.

The total consideration for the acquisition is $2.7m. It will be satisfied by allotting and issuing 1.7 billion shares in the company's capital for $0.0015 per share.

The acquisition is part of the group's strategy to diversify into recycling, renewable energy, and green technology businesses.

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