SAPRES

0.330

(%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SAPURA RESOURCES BERHAD ('SRB' OR 'THE COMPANY') (I) SUBSCRIPTION AND JOINT VENTURE AGREEMENT AMONGST SRB, SRB ONE SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF SRB, MTU ASIA PTE LTD ('MTU'), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF ROLLS-ROYCE POWER SYSTEMS AG AND MTU POWER SYSTEMS SDN BHD; AND (II) DIVERSIFICATION OF THE PRINCIPAL ACTIVITIES OF SRB AND ITS SUBSIDIARIES TO INCLUDE THE PROPOSED BUSINESS

SAPURA RESOURCES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
SAPURA RESOURCES BERHAD ('SRB' OR 'THE COMPANY') 

(I) SUBSCRIPTION AND JOINT VENTURE AGREEMENT AMONGST SRB, SRB ONE SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF SRB, MTU ASIA PTE LTD ('MTU'), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF ROLLS-ROYCE POWER SYSTEMS AG AND MTU POWER SYSTEMS SDN BHD; AND 

(II) DIVERSIFICATION OF THE PRINCIPAL ACTIVITIES OF SRB AND ITS SUBSIDIARIES TO INCLUDE THE PROPOSED BUSINESS

Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those given to them in the initial announcements dated 26 March 2019, 15 May 2019 and 23 May 2019.

We refer to the announcements dated 26 March 2019, 15 May 2019, 23 May 2019 and 3 July 2019 in relation to the Proposed Joint Venture.

The Company wishes to announce that pursuant to the terms of the JV Agreement, the SRB One Shareholder’s Loan was capitalised on 10 July 2019 with the allotment and issuance of 8,959,185 new Class B Shares to SRB One at an issue price of RM1.00 per share.

In addition, on the same day, MTU has also subscribed for 8,607,844 new Class A Shares for a cash consideration of RM8,607,844.

With the completion of the Subsequent Subscriptions, SRB One holds 10,208,164 Class B Shares and MTU holds 9,807,844 Class A Shares, representing 51% and 49% equity interest in MPS respectively.

This announcement is dated 10 July 2019.






Announcement Info

Company Name SAPURA RESOURCES BERHAD
Stock Name SAPRES
Date Announced 10 Jul 2019
Category General Announcement for PLC
Reference Number GA1-10072019-00046