General Announcement for PLC
09/12/2021TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS YTL CORPORATION BERHAD ("YTL CORP" OR "COMPANY") DISPOSAL BY YTL CEMENT BERHAD ("YTL CEMENT" OR "VENDOR") OF ITS ENTIRE EQUITY INTEREST IN 10 COMPANIES AND THEIR RESPECTIVE SUBSIDIARIES WHICH ARE INVOLVED IN CEMENT AND READY-MIXED CONCRETE BUSINESSES IN MALAYSIA TO MALAYAN CEMENT BERHAD ("MCB" OR "PURCHASER") FOR A TOTAL CONSIDERATION OF RM5,158.1 MILLION, SUBJECT TO ADJUSTMENTS ("DISPOSAL")
| YTL CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | YTL CORPORATION BERHAD ("YTL CORP" OR "COMPANY")
DISPOSAL BY YTL CEMENT BERHAD ("YTL CEMENT" OR "VENDOR") OF ITS ENTIRE EQUITY INTEREST IN 10 COMPANIES AND THEIR RESPECTIVE SUBSIDIARIES WHICH ARE INVOLVED IN CEMENT AND READY-MIXED CONCRETE BUSINESSES IN MALAYSIA TO MALAYAN CEMENT BERHAD ("MCB" OR "PURCHASER") FOR A TOTAL CONSIDERATION OF RM5,158.1 MILLION, SUBJECT TO ADJUSTMENTS ("DISPOSAL") |
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(Unless otherwise stated, the abbreviations and definitions used in this announcement shall have the same meanings as those previously defined in the Company’s announcements dated 12 May 2021, 26 July 2021, 3 September 2021 and 21 September 2021 in relation to the Disposal (“Announcements”).)
We refer to the Announcements in relation to the Disposal.
On behalf of the Board, RHB Investment Bank wishes to announce that based on the Audited Completion Accounts and the reporting accountants’ special statements on the Completion Net Working Capital and Completion Net Debt of the Subject Companies prepared following the completion of the Disposal, the Second Adjustment Amount is RM689,948.96, being the difference between the Estimated Net Debt of RM841,365,242.25 and Completion Net Debt of RM840,675,293.29.
As such, the Second Adjustment Amount will be paid by MCB to YTL Cement pursuant to Clause 3.3.2 (ii)(a) of the SSA.
This announcement is dated 9 December 2021
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Announcement Info
| Company Name | YTL CORPORATION BERHAD |
| Stock Name | YTL |
| Date Announced | 09 Dec 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09122021-00072 |
| Date | Title |
|---|---|
| 25/08/2022 | PROVISION OF FINANCIAL ASSISTANCE |
| 08/07/2022 | PROVISION OF FINANCIAL ASSISTANCE |
| 26/05/2022 | PROVISION OF FINANCIAL ASSISTANCE |
| 23/05/2022 | OTHERS YTL CORPORATION BERHAD - OFFER OF OPTIONS UNDER EMPLOYEES SHARE OPTION SCHEME |
| 08/04/2022 | PROVISION OF FINANCIAL ASSISTANCE |
| 24/02/2022 | PROVISION OF FINANCIAL ASSISTANCE |
| 09/02/2022 | OTHERS OFFER OF OPTIONS UNDER EMPLOYEES SHARE OPTION SCHEME |
| 11/01/2022 | PROVISION OF FINANCIAL ASSISTANCE |
| 25/11/2021 | PROVISION OF FINANCIAL ASSISTANCE |
| 08/10/2021 | PROVISION OF FINANCIAL ASSISTANCE |