OTHERS HANDAL ENERGY BERHAD ("HANDAL" OR THE "COMPANY") - ACQUISITION BY HANDAL OF 408,000 ORDINARY SHARES OF BORNEO SEAOFFSHORE ENGINEERING SDN BHD ("BSO ENGINEERING"), REPRESENTING 51.0% EQUITY INTEREST IN BSO ENGINEERING FROM SEAOFFSHORE CAPITAL SDN BHD ("SEAOFFSHORE CAPITAL")
| HANDAL ENERGY BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | HANDAL ENERGY BERHAD ("HANDAL" OR THE "COMPANY")
- ACQUISITION BY HANDAL OF 408,000 ORDINARY SHARES OF BORNEO SEAOFFSHORE ENGINEERING SDN BHD ("BSO ENGINEERING"), REPRESENTING 51.0% EQUITY INTEREST IN BSO ENGINEERING FROM SEAOFFSHORE CAPITAL SDN BHD ("SEAOFFSHORE CAPITAL") |
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Unless otherwise stated, all abbreviations used herein shall have the same meaning as those mentioned in the announcement dated 16 April 2019 and 30 October 2020 in relation to the Acquisition.
The Board of Directors of Handal (“Board”) wish to announce that the Company had on even date received a letter from Seaoffshore Capital informing that they intend to make good the shortfall in the profit guarantee by way of payment by cash to the Company as provided in the SSA and thus would not be seeking the EOT Request .
A further announcement will be released in due course.
This announcement is dated 13 November 2020. |
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Announcement Info
| Company Name | HANDAL ENERGY BERHAD |
| Stock Name | HANDAL |
| Date Announced | 13 Nov 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-13112020-00056 |