OTHERS PROPOSED ACQUISITION OF 37,459,501 ORDINARY SHARES IN PENANG PORT SDN BHD ("PPSB") REPRESENTING APPROXIMATELY 51.0% ORDINARY EQUITY INTEREST IN PPSB BY MMC PORT HOLDINGS SDN BHD ("MMC PORT" OR THE "PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF MMC, FROM SEAPORT TERMINAL (JOHORE) SDN BHD ("STJSB" OR THE "VENDOR") FOR A CASH CONSIDERATION OF RM220.0 MILLION ("PROPOSED 51% ACQUISITION")

MMC CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
PROPOSED ACQUISITION OF 37,459,501 ORDINARY SHARES IN PENANG PORT SDN BHD ("PPSB") REPRESENTING APPROXIMATELY 51.0% ORDINARY EQUITY INTEREST IN PPSB BY MMC PORT HOLDINGS SDN BHD ("MMC PORT" OR THE "PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF MMC, FROM SEAPORT TERMINAL (JOHORE) SDN BHD ("STJSB" OR THE "VENDOR") FOR A CASH CONSIDERATION OF RM220.0 MILLION ("PROPOSED 51% ACQUISITION")

We refer to our announcements dated 3 April 2017, 27 April 2017, 11 May 2017 and 11 October 2017 (“Announcements”) in relation to the Proposed 51% Acquisition. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcements.

 

MMC wishes to announce that on 11 April 2018, MMC Port and STJSB had, by way of a letter (“Second Extension Letter”), mutually agreed to further extend the period to satisfy or waive the conditions precedent in the SPA up to and including 9 July 2018.

 

The Second Extension Letter will be made available for inspection at the registered office of MMC at Ground Floor, Wisma Budiman, Persiaran Raja Chulan, 50200 Kuala Lumpur, Malaysia, during normal business hours (from 8.30 a.m. to 5.30 p.m.) from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this announcement.

 

This announcement is dated 11 April 2018.






Announcement Info

Company Name MMC CORPORATION BERHAD
Stock Name MMCCORP
Date Announced 11 Apr 2018
Category General Announcement for PLC
Reference Number GA1-10042018-00058