TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KNM GROUP BERHAD ("KNM" OR "THE COMPANY") PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN FBM HUDSON ITALIANA S.p.A BY KNM EUROPA B.V., A SUB-SUBSIDIARY OF KNM ("PROPOSED DISPOSAL")
| KNM GROUP BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | KNM GROUP BERHAD ("KNM" OR "THE COMPANY")
PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN FBM HUDSON ITALIANA S.p.A BY KNM EUROPA B.V., A SUB-SUBSIDIARY OF KNM ("PROPOSED DISPOSAL") |
|
(The definitions used in this announcement shall have the same meanings as defined in the announcements dated 8 September 2023, 12 September 2023 and 13 September 2023 in relation to the Proposed Disposal, unless stated otherwise.)
Reference is made to the Company’s announcements dated 8 September 2023, 12 September 2023 and 13 September 2023 in relation to the Proposed Disposal by the sub-subsidiary of the Company, KNM Europa B.V. (the “Seller”) of its 100% equity interest in FBM Hudson Italiana S.p.A.
The Company wishes to announce that one of the conditions precedent in the SPA for the Proposed Disposal, i.e. to obtain the Golden Power Clearance, has been rejected by the Italian Government, vide its letter dated 7 November 2023, which was received by the Company on 8 November 2023.
Presently, the management of KNM is reviewing and discussing with all the parties concerned for the steps moving forward. Further development in relation to the Proposed Disposal will be announced in due course.
The announcement is dated 9 November 2023. |
|
Announcement Info
| Company Name | KNM GROUP BERHAD |
| Stock Name | KNM |
| Date Announced | 09 Nov 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09112023-00056 |