OTHERS THOMSON HOSPITALS SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF TMC LIFE SCIENCES BERHAD - ACCEPTANCE OF NON-REVOLVING LINE INDUSTRIAL HIRE PURCHASE OF UP TO RM90.0 MILLION FROM OCBC BANK (MALAYSIA) BERHAD
TMC LIFE SCIENCES BERHAD |
Type | Announcement | ||||||
Subject | OTHERS |
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Description | THOMSON HOSPITALS SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF TMC LIFE SCIENCES BERHAD - ACCEPTANCE OF NON-REVOLVING LINE INDUSTRIAL HIRE PURCHASE OF UP TO RM90.0 MILLION FROM OCBC BANK (MALAYSIA) BERHAD |
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1. INTRODUCTION
The Board of Directors of TMC Life Sciences Berhad (“TMCLS” or “the Company”) wishes to announce that its wholly-owned subsidiary, Thomson Hospitals Sdn. Bhd., has accepted a Non-Revolving Line Industrial Hire Purchase of up to RM90.0 million (“the Facility”) with OCBC Bank (Malaysia) Berhad (“the Bank”) on 13 January 2020 based on terms and conditions as contained in the Bank’s the Letter of Offer dated 16 August 2019 and Supplemental Letter of Offer dated 12 December 2019.
2. INFORMATION OF THE FACILITY
3. FINANCIAL EFFECT OF THE FACILITY
The Facility (when fully drawn) is expected to increase the gearing of the Group. For illustrative purposes, based on the audited consolidated financial statements of the Company for the financial year ended 31 August 2019, the Facility is expected to increase the gearing of the Group from 0.002 times to 0.12 times.
The Board of Directors of the Company does not envisage any specific risk associated with the acceptance of the Facility, apart from the financing costs.
4. INTERESTS OF DIRECTORS, SUBSTANTIAL SHAREHOLDERS AND PERSONS CONNECTED
None of the Directors and/or substantial shareholders of the Company and persons connected to them have any interest, direct or indirect, in the Facility.
5. DIRECTORS’ RECOMMENDATION
The Board of Directors, after careful deliberation, is of the opinion that the acceptance of the Facility is in the best interest of the Company and TMCLS Group.
This announcement is dated 14 January 2020. |
Announcement Info
Company Name | TMC LIFE SCIENCES BERHAD |
Stock Name | TMCLIFE |
Date Announced | 14 Jan 2020 |
Category | General Announcement for PLC |
Reference Number | GA1-10012020-00035 |