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Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions (Amended Announcement)
Jun 09, 2022
Type
Announcement
Subject
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
GAMUDA BERHAD ("GAMUDA" OR THE "COMPANY")
PROPOSED DISPOSAL OF ALL THE SECURITIES IN:
(I) KESAS SDN BHD ("KESAS");
(II) SISTEM PENYURAIAN TRAFIK KL BARAT SDN BHD ("SPRINT");
(III) LINGKARAN TRANS KOTA SDN BHD ("LITRAK"); AND
(IV) SYARIKAT MENGURUS AIR BANJIR & TEROWONG SDN BHD ("SMART")
TO AMANAT LEBUHRAYA RAKYAT BERHAD ("ALR").
(COLLECTIVELY REFERRED TO AS THE "PROPOSED DISPOSALS" AND EACH AS THE "PROPOSED DISPOSAL")
Reference is made to the Company’s announcement dated 8 June 2022 in relation to the Proposed Disposals (“Previous Announcement”). Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the Previous Announcement.
On behalf of the Board of Gamuda, HLIB wishes to clarify the following amendments to the Previous Announcement.
1. Section 1 of the Previous Announcement
“The Board of Gamuda is of the view that none of the shareholders of Gamuda has any interest, whether direct or indirect, in relation to the Proposed Disposals. However, the Board of Gamuda is mindful that Permodalan Nasional Berhad (“PNB”) is the largest shareholder of Gamuda and second largest shareholder of LITRAK Holdings (after Gamuda). Further details on PNB are as set out in Section 9 of this announcement. As such, the Board of Gamuda had submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) to seek waiver from Bursa Securities that PNB is a non-interested shareholder and hence, PNB is not required to abstain from voting at the extraordinary general meeting (“EGM”) of Gamuda to be convened by virtue of Paragraph 10.08(7) of the Main Market Listing Requirements of Bursa Securities (“MMLR”) (“Waiver Application”).”
2. Section 11 of the Previous Announcement
“Based on the internal schedule and timeline of the Board of Gamuda for completion of the Proposed Disposals, the Board of Gamuda had intended for the completion of the Proposed Disposals to be on or before 30 June 2022, taking into account the expected aggressive timetable of interest rates to be increased by Central Bank regulators globally. The Board of Gamuda is highly cognisant that if interest rates reach a certain level which is uneconomical for ALR to raise its sukuk funding, the entire Proposed Disposals cannot proceed.
Nonetheless, this 30 June 2022 internal target completion date is always subject to the timing of the forthcoming issuance of the official notice of EGM and the accompanying circular to shareholders, as well as the approvals described in Section 8 of this announcement. The Board of Gamuda shall always abide by the laws and regulations under the Companies Act 2016 and the Listing Requirements, as well as the minimum notice period required for issuance of notice of meeting and circular to the shareholders of Gamuda.
The notice for the EGM of Gamuda to be convened and the circular to the shareholders of Gamuda shall be issued in due course and as soon as the appropriate approval has been duly obtained for issuance of the circular.”
The “Concurrence Application” as referred to in various sections in the Previous Announcement shall now read as “Waiver Application”.
This announcement is dated 9 June 2022.
Announcement Info
Company Name
GAMUDA BERHAD
Stock Name
GAMUDA
Date Announced
09 Jun 2022
Category
General Announcement for PLC
Reference Number
GA1-09062022-00039
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
GAMUDA BERHAD ("GAMUDA" OR THE "COMPANY") PROPOSED DISPOSAL OF ALL THE SECURITIES IN: (I) KESAS SDN BHD ("KESAS"); (II) SISTEM PENYURAIAN TRAFIK KL BARAT SDN BHD ("SPRINT"); (III) LINGKARAN TRANS KOTA SDN BHD ("LITRAK"); AND (IV) SYARIKAT MENGURUS AIR BANJIR & TEROWONG SDN BHD ("SMART") TO AMANAT LEBUHRAYA RAKYAT BERHAD ("ALR"). (COLLECTIVELY REFERRED TO AS THE "PROPOSED DISPOSALS" AND EACH AS THE "PROPOSED DISPOSAL") |
|
Reference is made to the Company’s announcement dated 8 June 2022 in relation to the Proposed Disposals (“Previous Announcement”). Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the Previous Announcement.
On behalf of the Board of Gamuda, HLIB wishes to clarify the following amendments to the Previous Announcement.
1. Section 1 of the Previous Announcement
“The Board of Gamuda is of the view that none of the shareholders of Gamuda has any interest, whether direct or indirect, in relation to the Proposed Disposals. However, the Board of Gamuda is mindful that Permodalan Nasional Berhad (“PNB”) is the largest shareholder of Gamuda and second largest shareholder of LITRAK Holdings (after Gamuda). Further details on PNB are as set out in Section 9 of this announcement. As such, the Board of Gamuda had submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) to seek waiver from Bursa Securities that PNB is a non-interested shareholder and hence, PNB is not required to abstain from voting at the extraordinary general meeting (“EGM”) of Gamuda to be convened by virtue of Paragraph 10.08(7) of the Main Market Listing Requirements of Bursa Securities (“MMLR”) (“Waiver Application”).”
2. Section 11 of the Previous Announcement
“Based on the internal schedule and timeline of the Board of Gamuda for completion of the Proposed Disposals, the Board of Gamuda had intended for the completion of the Proposed Disposals to be on or before 30 June 2022, taking into account the expected aggressive timetable of interest rates to be increased by Central Bank regulators globally. The Board of Gamuda is highly cognisant that if interest rates reach a certain level which is uneconomical for ALR to raise its sukuk funding, the entire Proposed Disposals cannot proceed.
Nonetheless, this 30 June 2022 internal target completion date is always subject to the timing of the forthcoming issuance of the official notice of EGM and the accompanying circular to shareholders, as well as the approvals described in Section 8 of this announcement. The Board of Gamuda shall always abide by the laws and regulations under the Companies Act 2016 and the Listing Requirements, as well as the minimum notice period required for issuance of notice of meeting and circular to the shareholders of Gamuda.
The notice for the EGM of Gamuda to be convened and the circular to the shareholders of Gamuda shall be issued in due course and as soon as the appropriate approval has been duly obtained for issuance of the circular.”
The “Concurrence Application” as referred to in various sections in the Previous Announcement shall now read as “Waiver Application”.
This announcement is dated 9 June 2022. |
|
Announcement Info
| Company Name | GAMUDA BERHAD |
| Stock Name | GAMUDA |
| Date Announced | 09 Jun 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09062022-00039 |