TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS NUENERGY HOLDINGS BERHAD ("NUENERGY" OR THE "COMPANY") PROPOSED ACQUISITION BY IL ENERGY SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF NUENERGY HOLDINGS BERHAD, COMPRISING: (A) 100% EQUITY INTEREST IN ARMANI SINAR SDN BHD FOR A PURCHASE CONSIDERATION OF RM30,000,000 IN CASH; AND (B) SOLAR ASSETS IN ARMANI ENERGY SDN BHD FOR A PURCHASE CONSIDERATION OF RM68,000,000 IN CASH (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| NUENERGY HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | NUENERGY HOLDINGS BERHAD ("NUENERGY" OR THE "COMPANY")
PROPOSED ACQUISITION BY IL ENERGY SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF NUENERGY HOLDINGS BERHAD, COMPRISING:
(A) 100% EQUITY INTEREST IN ARMANI SINAR SDN BHD FOR A PURCHASE CONSIDERATION OF RM30,000,000 IN CASH; AND
(B) SOLAR ASSETS IN ARMANI ENERGY SDN BHD FOR A PURCHASE CONSIDERATION OF RM68,000,000 IN CASH
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
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We refer to the announcements dated 17 July 2024, 1 August 2024, 4 September 2024, 26 September 2024, 27 September 2024, 10 January 2025, 5 February 2025, 5 May 2025, 7 May 2025 and 8 August 2025 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.
On behalf of the Board, Kenanga IB wishes to announce that the Purchaser and the Vendor of the Solar Assets had on 29 December 2025 mutually agreed to further extend the Completion Date of the SPA from 31 December 2025 to 31 March 2026, or such other date as may be agreed in writing between the parties, in accordance with the provisions of the SPA.
Since the previous extension of time until 29 December 2025, the Company is still in the midst of securing novation of the remaining three (3) outstanding SARE Related Contracts. The delay is mainly due to the respective customers’ requirements in obtaining the necessary documents from the national electric utility company and the Energy Commission in accordance with the terms and conditions of the SARE Related Contracts.
Notwithstanding, the Board is of the view that the extension of time until 31 March 2026 is sufficient to ensure that the novation for the remaining three (3) outstanding SARE Related Contracts in relation to the Solar Assets can be obtained.
Save for the above, all other provisions of the SPA remain unchanged and in full force and effect.
This announcement is dated 29 December 2025. |
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Announcement Info
| Company Name | NUENERGY HOLDINGS BERHAD |
| Stock Name | NHB |
| Date Announced | 29 Dec 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-29122025-00014 |