Circular/Notice to Shareholders
| ICON OFFSHORE BERHAD |
| Subject | ICON OFFSHORE BERHAD ("ICON" OR "COMPANY") PART A (I) PROPOSED ACQUISITION BY ICON EXPLORER (L) INC, A WHOLLY-OWNED SUBSIDIARY OF ICON FLEET SDN BHD (ICON FLEET) WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF ICON OFFSHORE BERHAD (ICON), OF THE PERISAI PACIFIC 101 RIG (AS DEFINED HEREIN), AN ASSET MORTGAGED TO OVERSEA-CHINESE BANKING CORPORATION LIMITED, LABUAN BRANCH (OCBC LABUAN) AND OVERSEA-CHINESE BANKING CORPORATION LIMITED, SINGAPORE (OCBC SINGAPORE) FROM PERISAI PACIFIC 101 (L) INC (PP101), A WHOLLY-OWNED SUBSIDIARY OF PERISAI DRILLING HOLDINGS SDN BHD (PDHSB) WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF PERISAI PETROLEUM TEKNOLOGI BHD. (PPTB) FOR THE MOA SALE PRICE (AS DEFINED HEREIN) (PROPOSED RIG ACQUISITION) (II) PROPOSED ACQUISITION BY ICON FLEET, A WHOLLY-OWNED SUBSIDIARY OF ICON, OF 51,000 ORDINARY SHARES IN PERISAI OFFSHORE SDN BHD (POSB) REPRESENTING 51% OF THE ISSUED SHARE CAPITAL OF POSB FROM PPTB FOR A TOTAL CONSIDERATION OF RM1,058,122.50 EQUIVALENT TO USD255,000.00 (PROPOSED SHARE ACQUISITION) (III) PROPOSED ACQUISITION BY AND ASSIGNMENT TO OMNI VENTURES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF ICON FLEET WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF ICON, OF THE ASSIGNED INTELLECTUAL PROPERTY (AS DEFINED HEREIN) FROM PERISAI DRILLING SDN BHD (PDSB), A WHOLLY-OWNED SUBSIDIARY OF PDHSB WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF PPTB FOR A PURCHASE CONSIDERATION OF RM2,074,750.00 EQUIVALENT TO USD500,000.00 (PROPOSED ACQUISITION AND ASSIGNMENT OF IP) (THE PROPOSED RIG ACQUISITION, THE PROPOSED SHARE ACQUISITION AND THE PROPOSED ACQUISITION AND ASSIGNMENT OF IP ARE COLLECTIVELY REFERRED TO AS, PROPOSED ACQUISITIONS) (IV) PROPOSED VARIATION OF THE UTILISATION OF PROCEEDS RAISED FROM THE RIGHTS ISSUE OF SHARES WITH WARRANTS (PROPOSED VARIATION) (V) PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF ICON AND ITS SUBSIDIARIES TO INCLUDE OFFSHORE DRILLING BUSINESS ARISING (AS DEFINED HEREIN) FROM THE PROPOSED ACQUISTIONS (PROPOSED DIVERSIFICATION) (THE PROPOSED ACQUISITIONS, THE PROPOSED VARIATION AND THE PROPOSED DIVERSIFICATION ARE COLLECTIVELY REFERRED TO AS, PROPOSALS) PARTB PROPOSAL TO MAKE AN OFFER ON THE EMPLOYEES SHARE OPTION SCHEME AND EMPLOYEES SHARE GRANT PLAN TO THE MANAGING DIRECTOR OF ICON |
Please refer attachment below.
Announcement Info
| Company Name | ICON OFFSHORE BERHAD |
| Stock Name | ICON |
| Date Announced | 30 Nov 2020 |
| Category | Document Submission |
| Reference Number | DCS-30112020-00008 |