MULTIPLE PROPOSALS RGT BERHAD ("RGTBHD" OR THE "COMPANY") I. PROPOSED ACQUISITION; II. PROPOSED EXEMPTION; AND III. PROPOSED SPECIAL ISSUE (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| RGT BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | RGT BERHAD ("RGTBHD" OR THE "COMPANY")
I. PROPOSED ACQUISITION;
II. PROPOSED EXEMPTION; AND
III. PROPOSED SPECIAL ISSUE
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
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The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements. We refer to the earlier announcements dated 21 August 2019, 6 September 2019, 24 February 2020, 15 June 2020, 19 June 2020, 18 September 2020, 30 September 2020 and 2 December 2020. On behalf of the Board, UOBKH wishes to announce that the SSA (and Supplemental SSA) in relation to the Proposed Acquisition had lapsed on 30 June 2021 ("SSA Expiry"), in view that the conditions precedent of the SSA (and Supplemental SSA) have not been fulfilled by the Last Conditions Date (i.e. 30 June 2021). As both the Proposed Acquisition and the Proposed Exemption are inter-conditional with each other, both the Proposed Acquisition and the Proposed Exemption shall accordingly be rendered null and void. The submission to the SC dated 2 December 2020 in relation to the Proposed Acquisition and the Proposed Exemption has accordingly been withdrawn ("Withdrawal"). Neither party to the SSA shall have any claim whatsoever against the other in respect of the same, including but not limited to any antecedent breach, if any, of the SSA. The SSA Expiry will not have any material effect on the consolidated earnings, EPS, NA and gearing of the Company, and that RGTSB remains a 60%-owned subsidiary of RGTBHD. Notwithstanding the SSA Expiry and Withdrawal, RGTBHD has the intention to re-enter into negotiation with the Vendors of RGTSB in respect of a proposed acquisition by RGTBHD of the remaining 40% equity interest in RGTSB not owned by RGTBHD, albeit on different terms to be agreed upon and at a later date. In this respect, the Board envisages to make the necessary announcement once the parties have entered into a new definitive agreement for the above. For avoidance of doubt, the Proposed Special Issue remains valid and will continue to be undertaken by RGTBHD, to comply with the Bumiputera Equity Requirements. The Proposed Special Issue is currently pending the approval of the Equity Compliance Unit of the SC.
This announcement is dated 30 June 2021. |
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Announcement Info
| Company Name | RGT BERHAD |
| Stock Name | RGTBHD |
| Date Announced | 30 Jun 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-30062021-00069 |