TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MARINE & GENERAL BERHAD (M&G OR COMPANY) DISPOSAL OF 40% EQUITY INTEREST IN M&G SUTERA 8 SDN BHD BY M&G MARINE LOGISTICS HOLDINGS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF M&G (DISPOSAL)
| MARINE & GENERAL BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | MARINE & GENERAL BERHAD (M&G OR COMPANY) DISPOSAL OF 40% EQUITY INTEREST IN M&G SUTERA 8 SDN BHD BY M&G MARINE LOGISTICS HOLDINGS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF M&G (DISPOSAL) |
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The Board of Directors of M&G (“Board”) wishes to announce that M&G Marine Logistics Holdings Sdn Bhd (“MGML”), a wholly-owned subsidiary of the Company, had, on 20 July 2020, entered into a subscription agreement (“Subscription Agreement”) with Muhibbah Engineering (M) Bhd (“MEB”) where MEB will subscribe for 40% equity interest in M&G Sutera 8 Sdn Bhd (“MGS8”).
MGS8 is currently a wholly-owned subsidiary of MGML, and accordingly, is a wholly-owned subsidiary of the Company. As such, upon completion of the Subscription Agreement, the Company will be deemed to have disposed of 40% equity interest in MGS8.
Further details of the Disposal are set out in the attachment.
This announcement is dated 21 July 2020. |
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Please refer attachment below.
Announcement Info
| Company Name | MARINE & GENERAL BERHAD |
| Stock Name | M&G |
| Date Announced | 21 Jul 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21072020-00052 |