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Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions
Type
| Announcement | |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
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") |
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We refer to the Company’s announcements dated 5 March 2016, 18 March 2016, 11 April 2016, 12 April 2016 and 16 June 2016 in relation to the Proposed Acquisition (“Announcements”). Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Announcements. On behalf of the Board, HLIB and Maybank IB wish to announce that the Company has been notified by MIEH that it has on today obtained the approval of its shareholders for the disposal of 60% equity interest in Palaeontol B.V. and the assignment and transfer of the Shareholder Loans in proportion to the Relevant Percentage by MIEH to Reach Energy, being one of the conditions precedent to be fulfilled by MIEH on or before the Longstop Date under the SPA.
This announcement is dated 20 June 2016. |
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Announcement Info
| Company Name | REACH ENERGY BERHAD |
| Stock Name | REACH |
| Date Announced | 20 Jun 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-20062016-00059 |