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BackJun 30, 2016

Type


Announcement
Subject OTHERS
Description

CHANGE OF GROUP STRUCTURE: RESTRUCTURING OF COMPANY

INTRODUCTION

Further to the Company announcement dated 26th May 2016 relating to the Change of Group Structure : Purchase of Shares in Mitra Angkasa by Sea Legend Shipping Sdn Bhd (an indirect wholly owned subsidiary of the Company) from Malaysian Engineering and Oilfield Services Sdn Bhd (“MEOS”) the remaining 499,999 Ordinary Shares and 2,500,000 Redeemable Preference Shares (“RPS”) in Mitra Angkasa Sdn Bhd for a total cash consideration of RM585,604 (Referred to as “the Acquisition”).

The Board of Directors wishes to announce that the Acquisition has not been concluded yet as the Company is still waiting for an extract of the directors’/members’ resolution of MEOS to approve the disposal of 499,999 Ordinary Shares and 2,500,000 Redeemable Preference Shares by MEOS to Sea Legend Shipping Sdn Bhd before concluding the Acquisition.

EXPECTED TIMEFRAME FOR COMPLETION

Barring unforeseen circumstances, the time frame for the Acquisition shall be extended and is expected to be completed by the end of September 2016. 

This announcement is dated 30 June 2016.

 

 


Announcement Info

Company Name SEALINK INTERNATIONAL BERHAD
Stock Name SEALINK
Date Announced 30 Jun 2016
Category General Announcement for PLC
Reference Number GA1-30062016-00139

Attachments

  1. announcement_grp_structure_300616.pdf (Size: 22,075 bytes)