MULTIPLE PROPOSALS BORNEO OIL BERHAD ("BORNOIL OR THE "COMPANY") I. PROPOSED ACQUISITION; II. PROPOSED DIVERSIFICATION; AND III. PROPOSED PRIVATE PLACEMENT (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| BORNEO OIL BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | BORNEO OIL BERHAD ("BORNOIL OR THE "COMPANY")
I. PROPOSED ACQUISITION;
II. PROPOSED DIVERSIFICATION; AND
III. PROPOSED PRIVATE PLACEMENT
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
On behalf of the Board of Directors of Bornoil ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company:- i. had on 28 October 2022, entered into a conditional share sale agreement with Global 2332 Ltd for the acquisition of a 30.73% equity interest in Makin Teguh Sdn Bhd for a purchase consideration of RM100,000,000 to be satisfied entirely in cash ("Proposed Acquisition"); ii. proposes to diversify the existing principal activities of Bornoil and its subsidiaries to include the manufacturing and trading of clinker, cement and related products ("Proposed Diversification"); and iii. proposes to undertake a private placement of up to 30% of the total number of issued shares of Bornoil ("Proposed Private Placement"). Further details of the Proposals are set out in the attachment enclosed.
This announcement is dated 28 October 2022. |
|
Please refer attachment below.
Announcement Info
| Company Name | BORNEO OIL BERHAD |
| Stock Name | BORNOIL |
| Date Announced | 28 Oct 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28102022-00065 |