TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS NI HSIN RESOURCES BERHAD ("NI HSIN" OR "THE COMPANY") - ACQUISITION OF 49% EQUITY INTERESTS IN SATUMARIN SDN. BHD. ("SATUMARIN")
| NI HSIN RESOURCES BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | NI HSIN RESOURCES BERHAD ("NI HSIN" OR "THE COMPANY")
- ACQUISITION OF 49% EQUITY INTERESTS IN SATUMARIN SDN. BHD. ("SATUMARIN") |
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Reference is made to the announcements dated 13 September 2019, 17 September 2019, 14 October 2019 and 13 January 2020, in relation to the proposed participation of Ni Hsin in the business and growth of Satumarin, the Proposed Acquisition and extension of Completion Period. The terms herein shall bear the same meaning as defined in the said announcements. The Board of Directors of Ni Hsin wishes to announce that Ni Hsin and Satumarin had vide a letter dated 13 February 2020 mutually confirmed that the Agreement has since lapsed on 13 February 2020 and ceased to have force and effect due to the non-fulfilment of the conditions precedent to the Agreement in respect of the due diligence findings. The termination of the Agreement would not have any financial impact on the Company and its subsidiaries. This announcement is dated 13 February 2020. |
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Announcement Info
| Company Name | NI HSIN RESOURCES BERHAD |
| Stock Name | NIHSIN |
| Date Announced | 13 Feb 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-13022020-00091 |