Document Submission

27/04/2017

Circular/Notice to Shareholders

MMC CORPORATION BERHAD

Subject CIRCULAR TO SHAREHOLDERS IN RELATION TO THE PART A (I) PREVIOUSLY ANNOUNCED ACQUISITIONS: (A) ACQUISITION OF 35,990,501 ORDINARY SHARES IN PENANG PORT SDN BHD (PPSB) REPRESENTING APPROXIMATELY 49.0% ORDINARY EQUITY INTEREST IN PPSB BY MMC PORT HOLDINGS SDN BHD (MMC PORT), A WHOLLY-OWNED SUBSIDIARY OF MMC CORPORATION BERHAD (MMC), FROM SEAPORT TERMINAL (JOHORE) SDN BHD (STJSB) FOR A CASH CONSIDERATION OF RM200.0 MILLION (49% ACQUISITION); AND (B) PROPOSED ACQUISITION OF 7,000 ORDINARY SHARES IN KMB SEAPORT SDN BHD (KMB SEAPORT) REPRESENTING 70.0% ORDINARY EQUITY INTEREST AND 4,990,000 IRREDEEMABLE CONVERTIBLE CUMULATIVE PREFERENCE SHARES IN KMB SEAPORT BY MMC OR ANY OF ITS NOMINATED SUBSIDIARIES, FROM SEAPORT MANAGEMENT SERVICES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF STJSB, FOR A CASH CONSIDERATION OF RM21.0 MILLION (PROPOSED KMB SEAPORT ACQUISITION), (INFORMATION IN RELATION TO THE 49% ACQUISITION AND THE PROPOSED KMB SEAPORT ACQUISITION ARE INCLUDED IN THIS CIRCULAR FOR INFORMATION ONLY AND THESE TRANSACTIONS ARE NOT SUBJECT TO THE APPROVAL OF THE SHAREHOLDERS OF MMC); AND (II) PROPOSED ACQUISITION OF 37,459,501 ORDINARY SHARES IN PPSB REPRESENTING APPROXIMATELY 51.0% ORDINARY EQUITY INTEREST IN PPSB BY MMC PORT FROM STJSB FOR A CASH CONSIDERATION OF RM220.0 MILLION (PROPOSED 51% ACQUISITION) PART B INDEPENDENT ADVICE LETTER BY MIDF AMANAH INVESTMENT BANK BERHAD TO THE NON-INTERESTED SHAREHOLDERS IN RELATION TO THE PROPOSED 51% ACQUISITION AND NOTICE OF EXTRAORDINARY GENERAL MEETING


Please refer attachment below.


Announcement Info

Company Name MMC CORPORATION BERHAD
Stock Name MMCCORP
Date Announced 27 Apr 2017
Category Document Submission
Reference Number DCS-27042017-00120


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