WIDAD

0.015

+0.005 (+50%)

MULTIPLE PROPOSALS WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY") (I) PROPOSED ACQUISITION; (II) PROPOSED DIVERSIFICATION; AND (III) PROPOSED SHARE CONSOLIDATION (COLLECTIVELY REFFERED TO AS THE "PROPOSALS")

WIDAD GROUP BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
WIDAD GROUP BERHAD ("WIDAD" OR THE "COMPANY")

(I)	PROPOSED ACQUISITION;
(II)	PROPOSED DIVERSIFICATION; AND
(III)	PROPOSED SHARE CONSOLIDATION

(COLLECTIVELY REFFERED TO AS THE "PROPOSALS")

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposals.

 

Reference is made to the Company’s announcements dated 17 April 2025 and 25 July 2025 in relation to the Proposals.

 

On behalf of the Board, Interpac wishes to announce that the Purchaser and the Vendor have on even date entered into a deed of termination in respect of the SPA dated 17 April 2025.

 

Pursuant to the deed of termination, the Purchaser and Vendor have mutually agreed to terminate the SPA in light of recent economic changes, which have prompted a reassessment of the Proposed Acquisition, including to reidentify the parcels of land intended to be sold and acquired.

 

Following the execution of the deed of termination, all obligations of the Purchaser and Vendor under the SPA shall cease and neither party shall have any further claims or demands against each other.

 

Further to the above, a new sale and purchase agreement will be entered into in due course once the Purchaser and the Vendor have agreed on the revised terms of the Proposed Acquisition, including the number of parcels of the Subject Land to be acquired, and details of the same shall be announced accordingly as and when appropriate.

 

In addition, the Company also wishes to revisit and revise the overall scheme of the Proposals, and details of the same shall be announced accordingly as and when appropriate.

 

This announcement is dated 21 August 2025.






Announcement Info

Company Name WIDAD GROUP BERHAD
Stock Name WIDAD
Date Announced 21 Aug 2025
Category General Announcement for PLC
Reference Number GA1-19082025-00024