General Announcement for PLC

21/07/2021

OTHERS DESTINI BERHAD ("DESTINI" OR "COMPANY") PROPOSED DISPOSAL BY DESTINI SHIPBUILDING AND ENGINEERING SDN BHD ("DSBE"), AN INDIRECT SUBSIDIARY OF DESTINI, OF 382,500 ORDINARY SHARES IN THHE DESTINI SDN BHD ("TDSB"), REPRESENTING 51% EQUITY INTEREST IN TDSB TO THHE FABRICATORS SDN BHD FOR A CASH CONSIDERATION OF RM121,131.12 ("PROPOSED DISPOSAL")

DESTINI BERHAD

Type Announcement
Subject OTHERS
Description 
DESTINI BERHAD ("DESTINI" OR "COMPANY")

PROPOSED DISPOSAL BY DESTINI SHIPBUILDING AND ENGINEERING SDN BHD ("DSBE"), AN INDIRECT SUBSIDIARY OF DESTINI, OF 382,500 ORDINARY SHARES IN THHE DESTINI SDN BHD ("TDSB"), REPRESENTING 51% EQUITY INTEREST IN TDSB TO THHE FABRICATORS SDN BHD FOR A CASH CONSIDERATION OF RM121,131.12 ("PROPOSED DISPOSAL")

Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in Destini Berhad’s announcements dated 21 April 2021 and 23 April 2021 in relation to the Proposed Disposal.

The Board of Directors of Destini wishes to announce that the Conditional Period under the SSA i.e. the period within which the conditions precedent are to be fulfilled or obtained, has been automatically extended for a further period of 3 months commencing immediately after the expiry of the Conditional Period on 20 July 2021 as per the terms of the SSA.

Save for the above, all other terms, conditions and provisions contained in the SSA shall remain unchanged and continue to be in full force and effect.

At the current juncture, the parties are in the midst of fulfilling the conditions precedents as required by the SSA. Save and except of the abovementioned, there is no other material development on the status of the SSA as of the date of this Announcement.

 

This Announcement is dated 21 July 2020.



Announcement Info

Company Name DESTINI BERHAD
Stock Name DESTINI
Date Announced 21 Jul 2021
Category General Announcement for PLC
Reference Number GA1-21072021-00088


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