NOTION VTEC BERHAD (0083)

 

Last Price	Change	Volume
0.915	-0.010 (-1.08%)	86,379
Open: 0.925	Day Range: 0.900 - 0.940	Prev Close: 0.925

OTHERS Notion VTec Berhad ("NVB" or "the Company") - New Business Activities in the Healthcare Industry

NOTION VTEC BERHAD

Type	Announcement
Subject	OTHERS
Description	Notion VTec Berhad ("NVB" or "the Company") - New Business Activities in the Healthcare Industry
We refer to the Company's announcement dated 30 October 2020 in relation to New Business Activities in the Healthcare Industry.   The Board of Directors (“Board”) wishes to announce that Notion Venture Sdn Bhd ("NVSB"), a wholly owned subsidiary of the Company, has obtained a Certificate of Registration from Registrar Corp certified that NVSB is registered with the U.S. Food and Drug Administration (“FDA”) for Financial Year 2021 for the Polymer Patient Examination Glove. Please note that the Company needs a 510(k), a premarket submission to FDA demonstrates that the device to be marketed is safe and effective and the submission is currently underway.   Also, the Company has submitted the necessary documents to apply for the European Conformity (CE) marking certification for the nitrile gloves from the European Union and the approval is expected to be obtained soon.   Both certifications are necessary for marketing the nitrile gloves in the USA and Europe, in which the Company’s nitrile gloves is currently supplied by Original Equipment Manufacturers, and brand building of the “Novid” brand will be taking place before the Company’s gloves production starts in middle of 2021.   Furthermore, the Company is also engaging with potential glove buyers on Manufacturing Lease Agreement on some gloves lines to be set up. NVB will dedicate all the output of the lines to glove buyers on a Cost Plus basis with an upfront leasing charge over a period of 24 months. By doing so, it is able to mitigate risks of NVB.   The Company will make further announcements whenever there is any material development on the above business activities.   This announcement is dated 2 November 2020. NOTION VTEC BERHAD (0083) Last Price Change Volume 0.915  -0.010 (-1.08%) 86,379 Open: 0.925 Day Range: 0.900 - 0.940 Prev Close: 0.925 Changes in Director's Interest (Section 219 of CA 2016) NOTION VTEC BERHAD Information Compiled By KLSE Particulars of Director Name MR CHOO WING HONG Descriptions(Class) Ordinary Shares Details of changes No Date of change No of securities Type of transaction Nature of Interest 1 23/10/2020 1,000,000 Acquired Direct Interest Name of registered holder Choo Wing Hong Description of "Others" Type of Transaction Consideration (if any) 1.1775 Circumstances by reason of which change has occurred Purchase of Ordinary Shares via open market Nature of interest Direct Interest Total no of securities after change Direct (units) 52,582,939 Direct (%) 10.216 Indirect/deemed interest (units) 0 Indirect/deemed interest (%) 0.000 Date of notice 27/10/2020 Date notice received by Listed Issuer 27/10/2020 Remarks : After change, the direct interest are as follows:- (i) Choo Wing Hong - 31,582,939 Ordinary Shares (ii) RHB Capital Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Choo Wing Hong - 21,000,000 Ordinary Shares The percentage of holding is based on the issued share capital of 514,711,156 Ordinary Shares. This announcement is also made to comply with Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad. Announcement Info Company Name NOTION VTEC BERHAD Stock Name NOTION Date Announced 27 Oct 2020 Category Changes in Director's Interest Pursuant to Section 219 of CA 2016 Reference Number CS4-24102020-00006