TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS NYLEX (MALAYSIA) BERHAD ("NYLEX" OR "COMPANY") (i) PROPOSED DISPOSAL OF ALL THE ASSETS AND LIABILITIES OF NYLEX TO ANCOM BERHAD ("ANCOM") ("PROPOSED DISPOSAL"); AND (ii) PROPOSED DISTRIBUTION OF THE PROCEEDS FROM THE PROPOSED DISPOSAL AMOUNTING TO RM164.3 MILLION TO ALL THE ENTITLED SHAREHOLDERS OF NYLEX BY WAY OF A CAPITAL REDUCTION AND REPAYMENT EXERCISE PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("PROPOSED DISTRIBUTION") (COLLECTIVELY TO BE REFERRED TO AS "PROPOSALS")
| NYLEX (MALAYSIA) BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | NYLEX (MALAYSIA) BERHAD ("NYLEX" OR "COMPANY")
(i) PROPOSED DISPOSAL OF ALL THE ASSETS AND LIABILITIES OF NYLEX TO ANCOM BERHAD ("ANCOM") ("PROPOSED DISPOSAL"); AND
(ii) PROPOSED DISTRIBUTION OF THE PROCEEDS FROM THE PROPOSED DISPOSAL AMOUNTING TO RM164.3 MILLION TO ALL THE ENTITLED SHAREHOLDERS OF NYLEX BY WAY OF A CAPITAL REDUCTION AND REPAYMENT EXERCISE PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("PROPOSED DISTRIBUTION")
(COLLECTIVELY TO BE REFERRED TO AS "PROPOSALS") |
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On 28 April 2021, the Board of Directors of Nylex (“Nylex Board”) announced that the Nylex Board had on even date received a letter dated 28 April 2021 from Ancom (“Proposal Letter”) offering to acquire all the assets and liabilities of Nylex, upon the terms and conditions as set out in the Proposal Letter and subject to the execution of a sale of business agreement to effect the Proposed Disposal (“Offer”).
On behalf of the Nylex Board, Maybank Investment Bank Berhad wishes to announce that the Nylex Board (save for Dato’ Siew Ka Wei, being an interested director), after having considered all aspects of the Offer and the views of the independent adviser, Mercury Securities Sdn. Bhd., has decided to accept the Offer, subject to, among others, the approvals of the non-interested shareholders of Nylex and the relevant regulatory authorities, where required.
Please refer to the attachment for details on the Proposals.
This announcement is dated 28 June 2021. |
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Please refer attachment below.
Announcement Info
| Company Name | NYLEX (MALAYSIA) BERHAD |
| Stock Name | NYLEX |
| Date Announced | 28 Jun 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28062021-00029 |