Bursa Announcements
News
Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions
Jun 10, 2022
Type
Announcement
Subject
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
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 and 9 June 2022 in relation to the Proposed Disposals (“Previous Announcements”). Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the Previous Announcements.
On behalf of the Board of Gamuda, HLIB wishes to announce that Bursa Securities had, vide its letter dated 10 June 2022 resolved to approve the Waiver Application, subject to the following conditions:
(i) A written confirmation from the Board of Gamuda that the Company and each of its directors are not accustomed or under any obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of PNB and the same is to be disclosed in the circular to shareholders.
(ii) The Board and Audit Committee of Gamuda must ensure that the disposals of SPRINT, SMART and Kesas each respectively is:
- in the best interest of Gamuda;
- fair, reasonable and based on normal commercial terms; and
- not detrimental to the interest of Gamuda’s shareholders.
(iii) Appointment of Principal Adviser and Independent Adviser (which is separate from the Independent Adviser of LITRAK Holdings) to advise Gamuda and its shareholders of the disposals of SPRINT, SMART and Kesas in accordance with Paragraph 10.08 of the MMLR.
(iv) Gamuda shall ensure its nominee director(s) abstain from deliberation and voting at any LITRAK Holdings’ board meeting and shall abstain itself from deliberation and voting at any LITRAK Holdings’ general meeting, in respect of the Proposed Disposals in accordance with Paragraph 10.08 of the MMLR.
This announcement is dated 10 June 2022.
Announcement Info
Company Name
GAMUDA BERHAD
Stock Name
GAMUDA
Date Announced
10 Jun 2022
Category
General Announcement for PLC
Reference Number
GA1-10062022-00066
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) 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 and 9 June 2022 in relation to the Proposed Disposals (“Previous Announcements”). Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the Previous Announcements.
On behalf of the Board of Gamuda, HLIB wishes to announce that Bursa Securities had, vide its letter dated 10 June 2022 resolved to approve the Waiver Application, subject to the following conditions:
(i) A written confirmation from the Board of Gamuda that the Company and each of its directors are not accustomed or under any obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of PNB and the same is to be disclosed in the circular to shareholders.
(ii) The Board and Audit Committee of Gamuda must ensure that the disposals of SPRINT, SMART and Kesas each respectively is:
(iii) Appointment of Principal Adviser and Independent Adviser (which is separate from the Independent Adviser of LITRAK Holdings) to advise Gamuda and its shareholders of the disposals of SPRINT, SMART and Kesas in accordance with Paragraph 10.08 of the MMLR.
(iv) Gamuda shall ensure its nominee director(s) abstain from deliberation and voting at any LITRAK Holdings’ board meeting and shall abstain itself from deliberation and voting at any LITRAK Holdings’ general meeting, in respect of the Proposed Disposals in accordance with Paragraph 10.08 of the MMLR.
This announcement is dated 10 June 2022. |
|
Announcement Info
| Company Name | GAMUDA BERHAD |
| Stock Name | GAMUDA |
| Date Announced | 10 Jun 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-10062022-00066 |