General Announcement for PLC

12/04/2016

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY REACH ENERGY, THROUGH REACH ENERGY VENTURES SDN BHD, OF 60% EQUITY INTEREST IN PALAEONTOL B.V., A WHOLLYOWNED SUBSIDIARY OF PALAEONTOL COOPERATIEF U.A. WHICH IN TURN IS AN INDIRECT WHOLLYOWNED SUBSIDIARY OF MIE HOLDINGS CORPORATION ("MIEH") AND 60% OF THE SHAREHOLDER LOANS IN PALAEONTOL B.V. FROM MIEH FOR A TOTAL PURCHASE CONSIDERATION OF USD154.9 MILLION (EQUIVALENT TO RM638.2 MILLION), SUBJECT TO ADJUSTMENTS ("PROPOSED ACQUISITION")

REACH ENERGY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
PROPOSED ACQUISITION BY REACH ENERGY, THROUGH REACH ENERGY VENTURES SDN BHD, OF 60% EQUITY INTEREST IN PALAEONTOL B.V., A WHOLLYOWNED SUBSIDIARY OF PALAEONTOL COOPERATIEF U.A. WHICH IN TURN IS AN INDIRECT WHOLLYOWNED SUBSIDIARY OF MIE HOLDINGS CORPORATION ("MIEH") AND 60% OF THE SHAREHOLDER LOANS IN PALAEONTOL B.V. FROM MIEH FOR A TOTAL PURCHASE CONSIDERATION OF USD154.9 MILLION (EQUIVALENT TO RM638.2 MILLION), SUBJECT TO ADJUSTMENTS ("PROPOSED ACQUISITION")

We wish to announce that Reach Energy Berhad had released a press release for clarification on the briefing organised by Reach Energy Berhad on 6 April 2016 for its Proposed Acquisition. Please refer to the attached press release for further details.

This announcement is dated 12 April 2016.


Please refer attachment below.

Attachments

Press release - REB.pdf
210.7 kB


Announcement Info

Company Name REACH ENERGY BERHAD
Stock Name REACH
Date Announced 12 Apr 2016
Category General Announcement for PLC
Reference Number GA1-12042016-00098


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