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OTHERS TADMAX RESOURCES BERHAD ("TADMAX" or the Company) - PROPOSED DISPOSAL OF 35% EQUITY INTERESTS IN PULAU INDAH POWER PLANT SDN BHD (FORMERLY KNOWN AS TADMAX INDAH POWER SDN BHD) ("PIPP") TO WORLDWIDE HOLDINGS BERHAD ("PURCHASER" OR "WHB") FOR A TOTAL DISPOSAL CONSIDERATION OF RM58,450,000 ("PROPOSED DISPOSAL")

TADMAX RESOURCES BERHAD

Type Announcement
Subject OTHERS
Description
TADMAX RESOURCES BERHAD ("TADMAX" or the Company)
- PROPOSED DISPOSAL OF 35% EQUITY INTERESTS IN PULAU INDAH POWER PLANT SDN BHD (FORMERLY KNOWN AS TADMAX INDAH POWER SDN BHD) ("PIPP") TO WORLDWIDE HOLDINGS BERHAD ("PURCHASER" OR "WHB") FOR A TOTAL DISPOSAL CONSIDERATION OF RM58,450,000 ("PROPOSED DISPOSAL")

The Board of Directors of Tadmax (“Board”) is pleased to announce that the Company had on 13 March 2020 entered into a Share Sale Agreement (“SSA”) with the Purchaser to dispose off 35% equity interest or equivalent to 17,500,000 ordinary shares (“Sale Shares”) of Pulau Indah Power Plant Sdn Bhd (formerly known as Tadmax Indah Power) (“PIPP”), a wholly-owned subsidiary of the Company, for a total disposal consideration of RM58,450,000 (“Disposal Consideration”) to be satisfied entirely in cash.

 

For further details, kindly refer to the attachment.

 

This announcement is dated 13 March 2020.




Please refer attachment below.



Announcement Info

Company Name TADMAX RESOURCES BERHAD
Stock Name TADMAX
Date Announced 13 Mar 2020
Category General Announcement for PLC
Reference Number GA1-13032020-00028



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