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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 |
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") |
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We refer to the Company’s announcements dated 5 March 2016, 18 March 2016, 11 April 2016, 12 April 2016, 20 June 2016 and 4 July 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 Reach Energy Ventures Sdn Bhd, a wholly-owned subsidiary of the Company, has on 18 July 2016 received the approval of the Committee on Regulation of Natural Monopolies and Protection of Competition of the Ministry of National Economy of the Republic of Kazakhstan for the acquisition of the Sale Shares. Such approval constitutes one of the conditions precedent to be fulfilled by the Company on or before the Longstop Date under the SPA. This announcement is dated 19 July 2016. |
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Announcement Info
| Company Name | REACH ENERGY BERHAD |
| Stock Name | REACH |
| Date Announced | 19 Jul 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-19072016-00065 |