Bursa Announcements
News
Others
Jun 19, 2014
Type
Announcement
Subject
OTHERS
Description
PROPOSED ACQUISITION BY GAMUDA BERHAD (“GAMUDA”) OF THE REMAINING 70% EQUITY INTEREST IN KESAS HOLDINGS BERHAD (“KESAS HOLDINGS”) NOT HELD BY GAMUDA (“PROPOSED ACQUISITION”)
We refer to the announcements dated 4 November 2013, 18 November 2013, 18 December 2013, 23 December 2013, 30 December 2013, 16 January 2014, 10 February 2014, 31 March 2014 and 30 May 2014 in relation to Gamuda’s offer to acquire the remaining equity interest in Kesas Holdings not held by Gamuda.
On behalf of Gamuda, CIMB Investment Bank Berhad (“CIMB”) wishes to announce that Gamuda has today entered into a share purchase agreement with Permodalan Nasional Berhad (“PNB”) (“PNB SPA”) for the acquisition of the entire 20% equity interest in Kesas Holdings held by PNB for a total purchase consideration of RM290 million. The PNB SPA is not subject to any condition precedent.
Accordingly, the offer price for each ordinary share of RM1.00 each and non-cumulative redeemable preference share of RM1.00 each in Kesas Holdings not owned by Gamuda has been revised from RM2.973 to RM3.080 (“Revised Offer”). A notice of the Revised Offer was served by CIMB, on behalf of Gamuda, to the Board of Directors of Kesas Holdings today (“Notice of Revised Offer”). Please refer to the Notice of Revised Offer attached.
Gamuda intends to seek an exemption from undertaking the Revised Offer under Paragraph 20.1 of Practice Note 9 of the Malaysian Code of Take-Overs and Mergers, 2010 from the Securities Commission (“SC”) (“Proposed Exemption”). In this regard, Gamuda has received an undertaking from Perbadanan Kemajuan Negeri Selangor not to accept the Revised Offer. If the Proposed Exemption is approved by the SC, the Revised Offer shall terminate with effect from the date of grant of the Proposed Exemption.
This announcement is dated 19 June 2014.
Announcement Info
Company Name
GAMUDA BERHAD
Stock Name
GAMUDA
Date Announced
19 Jun 2014
Category
General Announcement
Reference No
MM-140619-55174
Attachments
| Type | Announcement |
| Subject | OTHERS |
| Description | PROPOSED ACQUISITION BY GAMUDA BERHAD (“GAMUDA”) OF THE REMAINING 70% EQUITY INTEREST IN KESAS HOLDINGS BERHAD (“KESAS HOLDINGS”) NOT HELD BY GAMUDA (“PROPOSED ACQUISITION”) |
|
We refer to the announcements dated 4 November 2013, 18 November 2013, 18 December 2013, 23 December 2013, 30 December 2013, 16 January 2014, 10 February 2014, 31 March 2014 and 30 May 2014 in relation to Gamuda’s offer to acquire the remaining equity interest in Kesas Holdings not held by Gamuda.
On behalf of Gamuda, CIMB Investment Bank Berhad (“CIMB”) wishes to announce that Gamuda has today entered into a share purchase agreement with Permodalan Nasional Berhad (“PNB”) (“PNB SPA”) for the acquisition of the entire 20% equity interest in Kesas Holdings held by PNB for a total purchase consideration of RM290 million. The PNB SPA is not subject to any condition precedent.
Accordingly, the offer price for each ordinary share of RM1.00 each and non-cumulative redeemable preference share of RM1.00 each in Kesas Holdings not owned by Gamuda has been revised from RM2.973 to RM3.080 (“Revised Offer”). A notice of the Revised Offer was served by CIMB, on behalf of Gamuda, to the Board of Directors of Kesas Holdings today (“Notice of Revised Offer”). Please refer to the Notice of Revised Offer attached.
Gamuda intends to seek an exemption from undertaking the Revised Offer under Paragraph 20.1 of Practice Note 9 of the Malaysian Code of Take-Overs and Mergers, 2010 from the Securities Commission (“SC”) (“Proposed Exemption”). In this regard, Gamuda has received an undertaking from Perbadanan Kemajuan Negeri Selangor not to accept the Revised Offer. If the Proposed Exemption is approved by the SC, the Revised Offer shall terminate with effect from the date of grant of the Proposed Exemption.
This announcement is dated 19 June 2014. |
|
Announcement Info
| Company Name | GAMUDA BERHAD |
| Stock Name | GAMUDA |
| Date Announced | 19 Jun 2014 |
| Category | General Announcement |
| Reference No | MM-140619-55174 |
Attachments