TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS RESERVOIR LINK ENERGY BHD ("RLEB" OR THE "COMPANY") (I) PROPOSED ACQUISITION; AND (II) PROPOSED DIVERSIFICATION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| RESERVOIR LINK ENERGY BHD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | RESERVOIR LINK ENERGY BHD ("RLEB" OR THE "COMPANY")
(I) PROPOSED ACQUISITION; AND
(II) PROPOSED DIVERSIFICATION
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
On behalf of the Board of Directors of RLEB (“Board”), M&A Securities Sdn Bhd (“M&A”) wishes to announce that the Company proposes to undertake the following proposals:
(i) Proposed acquisition of 51% equity interest in Founder Energy Sdn Bhd from Lee Seng Chi for a purchase consideration of RM21.169 million to be satisfied via a combination of cash and issuance of new ordinary shares in RLEB ("Proposed Acquisition"); and
(ii) Proposed diversification of the existing principal activities of the Company and its subsidiaries to include renewable energy business and related activities ("Proposed Diversification").
Kindly refer to the attachment for full details.
This announcement is dated 11 June 2021.
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Please refer attachment below.
Announcement Info
| Company Name | RESERVOIR LINK ENERGY BHD |
| Stock Name | RL |
| Date Announced | 11 Jun 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11062021-00049 |