MULTIPLE PROPOSALS PANSAR BERHAD ("PANSAR" OR THE "COMPANY") (I) ACQUISITION BY PANSAR OF THE ENTIRE EQUITY INTEREST IN PERBENA EMAS SDN BHD ("PESB") FROM PE HOLDINGS SDN BHD ("PE HOLDINGS") FOR A PURCHASE CONSIDERATION OF RM151,000,000 TO BE SATISFIED ENTIRELY IN CASH ("ACQUISITION"); AND (II) DIVERSIFICATION OF THE PRINCIPAL ACTIVITIES OF PANSAR AND ITS SUBSIDIARIES TO INCLUDE CONSTRUCTION AND CIVIL ENGINEERING ("DIVERSIFICATION") (COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")
| PANSAR BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | PANSAR BERHAD ("PANSAR" OR THE "COMPANY")
(I) ACQUISITION BY PANSAR OF THE ENTIRE EQUITY INTEREST IN PERBENA EMAS SDN BHD ("PESB") FROM PE HOLDINGS SDN BHD ("PE HOLDINGS") FOR A PURCHASE CONSIDERATION OF RM151,000,000 TO BE SATISFIED ENTIRELY IN CASH ("ACQUISITION"); AND
(II) DIVERSIFICATION OF THE PRINCIPAL ACTIVITIES OF PANSAR AND ITS SUBSIDIARIES TO INCLUDE CONSTRUCTION AND CIVIL ENGINEERING ("DIVERSIFICATION")
(COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES") |
|
We refer to the previous announcements and the circular to shareholders dated 30 November 2020 (“Circular”) in relation to the Corporate Exercises, as well as the announcement dated 6 April 2021 in relation to the Supplemental SPA and the SPA Amendments (“Announcement”). The terms used herein shall, unless the context otherwise states, have the same meaning as those defined in the Circular and the Announcement.
The Board of Pansar wishes to inform that the Supplemental SPA and the SPA Amendments are not deemed as material variations to the Acquisition pursuant to Paragraph 8.22 of the Main Market Listing Requirements of Bursa Securities. In this regard, shareholders’ approval is not required for the SPA Amendments.
This announcement is dated 7 April 2021. |
|
Announcement Info
| Company Name | PANSAR BERHAD |
| Stock Name | PANSAR |
| Date Announced | 07 Apr 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-07042021-00053 |