General Announcement for PLC

06/04/2021

MULTIPLE PROPOSALS PANSAR BERHAD ("PANSAR" OR THE "COMPANY") (I) ACQUISITION BY PANSAR OF THE ENTIRE EQUITY INTEREST IN PERBENA EMAS SDN BHD ("PESB") FROM PE HOLDINGS SDN BHD ("PE HOLDINGS") FOR A PURCHASE CONSIDERATION OF RM151,000,000 TO BE SATISFIED ENTIRELY IN CASH ("ACQUISITION"); AND (II) DIVERSIFICATION OF THE PRINCIPAL ACTIVITIES OF PANSAR AND ITS SUBSIDIARIES TO INCLUDE CONSTRUCTION AND CIVIL ENGINEERING ("DIVERSIFICATION") (COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")

PANSAR BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
PANSAR BERHAD ("PANSAR" OR THE "COMPANY")

(I) ACQUISITION BY PANSAR OF THE ENTIRE EQUITY INTEREST IN PERBENA EMAS SDN BHD ("PESB") FROM PE HOLDINGS SDN BHD ("PE HOLDINGS") FOR A PURCHASE CONSIDERATION OF RM151,000,000 TO BE SATISFIED ENTIRELY IN CASH ("ACQUISITION"); AND

(II) DIVERSIFICATION OF THE PRINCIPAL ACTIVITIES OF PANSAR AND ITS SUBSIDIARIES TO INCLUDE CONSTRUCTION AND CIVIL ENGINEERING ("DIVERSIFICATION")

(COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")

We refer to the previous announcements and the circular to shareholders dated 30 November 2020 (“Circular”) in relation to the Corporate Exercises. The terms used herein shall, unless the context otherwise states, have the same meaning as those defined in the Circular.

 

On behalf of the Board, UOBKH wishes to announce that the Company had on 6 April 2021 entered into a supplemental share purchase agreement (“Supplemental SPA”) with PE Holdings, to amend certain terms of the SPA dated 9 September 2020 in relation to the Acquisition (“SPA Amendments”).

 

Further, UOBKH wishes to announce that pursuant to the fulfilment of all the conditions precedent under the SPA on 6 April 2021, the Acquisition has become unconditional.

 

Further details of the SPA Amendments are set out in the attachment.

 

 

This announcement is dated 6 April 2021.


Please refer attachment below.


Announcement Info

Company Name PANSAR BERHAD
Stock Name PANSAR
Date Announced 06 Apr 2021
Category General Announcement for PLC
Reference Number GA1-06042021-00085


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