General Announcement for PLC

21/09/2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS YTL CORPORATION BERHAD ("YTL CORP" OR "COMPANY") PROPOSED DISPOSAL BY YTL CEMENT BERHAD ("YTL CEMENT" OR "VENDOR") OF ITS ENTIRE EQUITY INTEREST IN 10 COMPANIES AND THEIR RESPECTIVE SUBSIDIARIES WHICH ARE INVOLVED IN CEMENT AND READY-MIXED CONCRETE BUSINESSES IN MALAYSIA TO MALAYAN CEMENT BERHAD ("MCB" OR "PURCHASER") FOR A TOTAL CONSIDERATION OF RM5,158.1 MILLION, SUBJECT TO ADJUSTMENTS ("PROPOSED DISPOSAL")

YTL CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
YTL CORPORATION BERHAD ("YTL CORP" OR "COMPANY")

PROPOSED DISPOSAL BY YTL CEMENT BERHAD ("YTL CEMENT" OR "VENDOR") OF ITS ENTIRE EQUITY INTEREST IN 10 COMPANIES AND THEIR RESPECTIVE SUBSIDIARIES WHICH ARE INVOLVED IN CEMENT AND READY-MIXED CONCRETE BUSINESSES IN MALAYSIA TO MALAYAN CEMENT BERHAD ("MCB" OR "PURCHASER") FOR A TOTAL CONSIDERATION OF RM5,158.1 MILLION, SUBJECT TO ADJUSTMENTS ("PROPOSED DISPOSAL")

(Unless otherwise stated, the abbreviations and definitions used in this announcement shall have the same meanings as those previously defined in the Company’s announcements dated 12 May 2021, 26 July 2021 and 3 September 2021 in relation to the Proposed Disposal (“Announcements”).)

 

We refer to the Announcements in relation to the Proposed Disposal.

 

On behalf of the Board, RHB Investment Bank wishes to announce that the Proposed Disposal has been completed today following the settlement of the total consideration of RM5,158 million in the following manner:

 

(i) RM2,000 million in cash after taking into consideration the First Adjustment Amount;

 

(ii) RM1,408 million through the issuance of 375,506,174 new MCB Shares at an issue price of RM3.75 per Consideration Share, which will be listed on the Main Market of Bursa Securities on 22 September 2021; and

 

(iii) RM1,750 million through the issuance of 466,666,667 new ICPS at an issue price of RM3.75 per Consideration ICPS.

 

 

This announcement is dated 21 September 2021



Announcement Info

Company Name YTL CORPORATION BERHAD
Stock Name YTL
Date Announced 21 Sep 2021
Category General Announcement for PLC
Reference Number GA1-21092021-00072


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