RANHILL

1.080

(%)

OTHERS RANHILL UTILITIES BERHAD (FORMERLY KNOWN AS RANHILL HOLDINGS BERHAD) ("RANHILL" OR "THE COMPANY") - MEMORANDUM OF UNDERSTANDING ("MOU") AND CONSORTIUM AGREEMENT ("CONSORTIUM AGREEMENT") BETWEEN MAYNILAD WATER SERVICES, INC., METROPAC WATER INVESTMENTS CORPORATION, RANHILL CAPITAL, PT VARSHA ZAMINDO LESTARI AND PERUSAHAAN PERSEROAN PT PEMBANGUNAN PERUMAHAN TBK

RANHILL UTILITIES BERHAD

Type Announcement
Subject OTHERS
Description
RANHILL UTILITIES BERHAD (FORMERLY KNOWN AS RANHILL HOLDINGS BERHAD) ("RANHILL" OR "THE COMPANY") - MEMORANDUM OF UNDERSTANDING ("MOU") AND CONSORTIUM AGREEMENT ("CONSORTIUM AGREEMENT") BETWEEN MAYNILAD WATER SERVICES, INC., METROPAC WATER INVESTMENTS CORPORATION, RANHILL CAPITAL, PT VARSHA ZAMINDO LESTARI AND PERUSAHAAN PERSEROAN PT PEMBANGUNAN PERUMAHAN TBK

We refer to the Company’s announcement on 23 July 2020 pertaining to the MOU and Consortium Agreement entered between Maynilad Water Services, Inc., Metropac Water Investments Corporation, Ranhill Capital, PT Varsha Zamindo Lestari and Perusahaan Perseroan PT Pembangunan Perumahan TBK. Unless otherwise defined, the definitions set out in the previous announcement shall apply herein.

 

The Company wishes to inform on the duration of the MOU and Consortium Agreement are as follows:-

 

MOU

 

The MOU is valid for a period of 1 (one) year from the date of signing of the MOU or until the signing of a more definitive formal agreement on this cooperation (whichever occurs first) and can be extended in accordance with the agreement of the Parties with a prior written notice no later than 30 (thirty) days before the expiry date of this MOU.

 

Each Party may at any time terminate the MOU before the period as referred to in the above paragraph ends by notifying the other Party in writing no later than 30 (thirty) calendar days before the end date of this MOU.

 

Consortium Agreement

 

The Consortium Agreement shall terminate upon the earliest of the following events:

  1. the bid documents or prequalification documents submitted by the Parties are rejected or disqualified by Ministry of Public Works and Housing of the Republic of Indonesia; or
  2. the Project has been awarded (final and not appealable) to a third party and this Agreement is replaced by a shareholder’s agreement or other agreements that have the same nature concerning the establishment of the BUP agreed and signed by the Parties; or
  3. Ministry of Public Works and Housing of the Republic of Indonesia officially or effectively cancels the Project; or
  4. the Parties mutually agree in writing to terminate this Agreement.

This announcement is dated 27 July 2020.






Announcement Info

Company Name RANHILL UTILITIES BERHAD
Stock Name RANHILL
Date Announced 27 Jul 2020
Category General Announcement for PLC
Reference Number GA1-27072020-00111