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MULTIPLE PROPOSALS PESONA METRO HOLDINGS BERHAD ("PMHB" OR THE "COMPANY") (I) ACQUISITION OF THE ENTIRE EQUITY INTEREST IN SEP RESOURCES (M) SDN BHD ("SEP") FOR A PURCHASE CONSIDERATION OF RM29,150,000 ("ACQUISITION OF SEP"); AND (II) VARIATION VIA THE SUPPLEMENTAL AGREEMENT DATED 9 AUGUST 2016 TO ADD ON, AMEND AND VARY CERTAIN TERMS AND CONDITIONS OF THE SHARE SALE AGREEMENT ("SSA") DATED 29 AUGUST 2014 IN RELATION TO THE ACQUISITION OF SEP ("SSA VARIATION") (COLLECTIVELY, "CORPORATE EXERCISES")

PESONA METRO HOLDINGS BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
PESONA METRO HOLDINGS BERHAD ("PMHB" OR THE "COMPANY")

(I)	ACQUISITION OF THE ENTIRE EQUITY INTEREST IN SEP RESOURCES (M) SDN BHD ("SEP") FOR A PURCHASE CONSIDERATION OF RM29,150,000 ("ACQUISITION OF SEP"); AND

(II)	VARIATION VIA THE SUPPLEMENTAL AGREEMENT DATED 9 AUGUST 2016 TO ADD ON, AMEND AND VARY CERTAIN TERMS AND CONDITIONS OF THE SHARE SALE AGREEMENT ("SSA") DATED 29 AUGUST 2014 IN RELATION TO THE ACQUISITION OF SEP ("SSA VARIATION")

(COLLECTIVELY, "CORPORATE EXERCISES")

We refer to the announcements dated 26 May 2016, 9 August 2016, 25 August 2016, 24 October 2016, 10 November 2016, 30 November 2016, 6 April 2017, 14 April 2017, 5 October 2017, 6 October 2017, 20 October 2017, 15 March 2018 and 30 March 2018 in relation to the Corporate Exercises (“Announcements”), the circulars to shareholders of PMHB dated 15 December 2014 and 10 November 2016. Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, TA Securities wishes to announce that PMHB and the Vendors had on 1 October 2018 mutually agreed not to proceed with the Phase 2 Acquisition of SEP (comprising 30% equity interest in SEP) in view that UKAS Waiver on the UKAS Bumi Equity Condition has not been obtained by the Vendors within the extended timeframe i.e., before 30 September 2018. As such, the Vendors shall forthwith refund an amount of RM450,000 equivalent to 30% of the Deposit to the Company within 14 days from 1 October 2018.

The Acquisition of SEP is deemed completed with PMHB having acquired 70% equity interest in SEP comprising 70,000 ordinary shares of SEP from the Vendors, which was completed on 5 October 2017. The First Tranche Consideration Shares had been allotted and issued on 5 October 2017 and listed on the Main Market of Bursa Securities on 9 October 2017. 

This announcement is dated 1 October 2018.






Announcement Info

Company Name PESONA METRO HOLDINGS BERHAD
Stock Name PESONA
Date Announced 01 Oct 2018
Category General Announcement for PLC
Reference Number GA1-28092018-00105



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