General Announcement for PLC
31/12/2015OTHERS EXTENSION OF TIME IN RELATION ACQUISITION OF 51% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF MASBE COFFEE SDN BHD BY O&C RESOURCES BERHAD
O&C RESOURCES BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | EXTENSION OF TIME IN RELATION ACQUISITION OF 51% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF MASBE COFFEE SDN BHD BY O&C RESOURCES BERHAD |
Reference is made to the announcements of the Company made on 30 July 2015, 3 August 2015, 30 October 2015 and 30 November 2015 in relation to the acquisition of 51 ordinary shares of RM1.00 each representing fifty one per centum (51%) of the issued and paid-up share capital of Masbe Coffee Sdn. Bhd. (“MCSB”) from Makok Intl Sdn. Bhd. (“MISB”) for a cash consideration of RM5,000,000.00 (the “Acquisition”) (the “Announcements”). Unless otherwise stated, defined terms used in this announcement shall carry the same meanings as defined in the Announcements. The Board of Directors of O&C Resources Berhad (formerly known as Takaso Resources Berhad) wishes to inform that the Company, has at the request from MISB vide MISB’s letter dated 30 December 2015 agreed to an extension of time of fifteen (15) days expiring 15 January 2016 for MISB to procure MCSB to obtain the letter of consent from United Overseas Bank (Malaysia) Berhad, the financier of MCSB, for the change of shareholding in MCSB. Other terms and conditions of the Share Sale Agreement remain unchanged. This announcement is dated 31 December 2015. |
Announcement Info
Company Name | O&C RESOURCES BERHAD |
Stock Name | OCR |
Date Announced | 31 Dec 2015 |
Category | General Announcement for PLC |
Reference Number | GA1-30122015-00106 |