KUALA LUMPUR (Jan 26): KNM GROUP BHD [] shares rose on Thursday after it proposed to acquire a company owning 55 acres of land at Storey's Bar Road, Peterborough, England for 25 million pound sterling or RM120 million.
At 9.05am, KNM added 3.5 sen to RM1.03 with 892,200 shares traded.
It had signed an exclusivity agreement with Poplar Holdings Ltd for the grant of exclusivity to acquire the latter’s unit Poplar Investments Ltd which owns the 55 acres of vacant land.
KNM said the agreement was to secure exclusive rights to purchase the sale shares and indirectly own the land to build an 80 MW waste to energy plant.
At 9.05am, KNM added 3.5 sen to RM1.03 with 892,200 shares traded.
It had signed an exclusivity agreement with Poplar Holdings Ltd for the grant of exclusivity to acquire the latter’s unit Poplar Investments Ltd which owns the 55 acres of vacant land.
KNM said the agreement was to secure exclusive rights to purchase the sale shares and indirectly own the land to build an 80 MW waste to energy plant.
