General Announcement for PLC
16/11/2016TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS REACH ENERGY BERHAD ("REACH ENERGY" OR "COMPANY") PROPOSED ACQUISITION BY REACH ENERGY VENTURES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF REACH ENERGY OF 60% EQUITY INTEREST IN PALAEONTOL B.V., A WHOLLY-OWNED SUBSIDIARY OF PALAEONTOL COOPERATIEF U.A. WHICH IN TURN IS AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF MIE HOLDINGS CORPORATION ("MIEH") AND 60% OF THE SHAREHOLDER LOANS FROM MIEH FOR A TOTAL CASH CONSIDERATION OF USD154,889,000, SUBJECT TO ADJUSTMENTS ("PROPOSED ACQUISITION")
| REACH ENERGY BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | REACH ENERGY BERHAD ("REACH ENERGY" OR "COMPANY")
PROPOSED ACQUISITION BY REACH ENERGY VENTURES SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF REACH ENERGY OF 60% EQUITY INTEREST IN PALAEONTOL B.V., A WHOLLY-OWNED SUBSIDIARY OF PALAEONTOL COOPERATIEF U.A. WHICH IN TURN IS AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF MIE HOLDINGS CORPORATION ("MIEH") AND 60% OF THE SHAREHOLDER LOANS FROM MIEH FOR A TOTAL CASH CONSIDERATION OF USD154,889,000, SUBJECT TO ADJUSTMENTS ("PROPOSED ACQUISITION") |
|
(Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Company’s announcements dated 5 March 2016, 18 March 2016, 11 April 2016, 12 April 2016, 23 May 2016, 24 May 2016, 26 May 2016, 20 June 2016, 4 July 2016, 19 July 2016, 24 August 2016, 5 September 2016, 21 September 2016, 7 October 2016, 12 October 2016, 27 October 2016, 4 November 2016, 7 November 2016 and 9 November 2016 in relation to the Proposals). On behalf of the Board, HLIB and Maybank IB wish to announce that following the approval of the shareholders of Reach Energy for the Proposed Acquisition at the Adjourned EGM of the Company held earlier today, the SPA has today become unconditional. The satisfaction of the consideration to entitled shareholders who have submitted a Request Form for the qualifying acquisition share repurchase will be undertaken by the Company within 7 market days from today, premised on the completion of the Proposed Acquisition in accordance with the SPA. This announcement is dated 16 November 2016. |
|
Announcement Info
| Company Name | REACH ENERGY BERHAD |
| Stock Name | REACH |
| Date Announced | 16 Nov 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-16112016-00077 |