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OTHERS TADMAX RESOURCES BERHAD ("TADMAX" or "the Company") - RECEIPT OF EXPRESSION OF INTEREST FROM WORLDWIDE HOLDINGS BERHAD ("WHB") TO ACQUIRE 40% EQUITY INTERESTS IN PULAU INDAH POWER PLANT SDN BHD (FORMERLY KNOWN AS TADMAX INDAH POWER SDN BHD) ("PIPP") ("PROPOSED INTEREST")

TADMAX RESOURCES BERHAD

Type Announcement
Subject OTHERS
Description
TADMAX RESOURCES BERHAD ("TADMAX" or "the Company")
- RECEIPT OF EXPRESSION OF INTEREST FROM WORLDWIDE HOLDINGS BERHAD ("WHB") TO ACQUIRE 40% EQUITY INTERESTS IN PULAU INDAH POWER PLANT SDN BHD (FORMERLY KNOWN AS TADMAX INDAH POWER SDN BHD) ("PIPP") ("PROPOSED INTEREST")

Reference is made to the earlier announcements dated 13 March 2020 and 17 March 2020 in relation to the proposed disposal of 35% equity interests in PIPP to WHB.

 

The Board of Directors of Tadmax (“Board”) wishes to announce that the Company had on 16 March 2020 received a letter dated on the even date from WHB wherein WHB expressed its interest to acquire an additional 40% equity interests in PIPP (“Proposed Interest”).

 

Tadmax has on 26 March 2020 notified that the Company has no objection towards WHB’s Proposed Interest and the parties agreed to move forward to liaise with all relevant governmental and/or regulatory bodies in procuring for all the necessary approvals or consents.

 

Both Tadmax and WHB will proceed to negotiate on the terms and conditions of the sale including the sale consideration after securing all the necessary approvals or consents from relevant governmental and/or regulatory bodies.

 

Tadmax will make the appropriate announcement as and when there are material developments in relation to the Proposed Interest.

 

This announcement is dated 26 March 2020.






Announcement Info

Company Name TADMAX RESOURCES BERHAD
Stock Name TADMAX
Date Announced 26 Mar 2020
Category General Announcement for PLC
Reference Number GA1-26032020-00021



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