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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS TADMAX RESOURCES BERHAD ("TADMAX" OR "COMPANY") (I) PROPOSED ACQUISITION; AND (II) PROPOSED EXEMPTION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

TADMAX RESOURCES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
TADMAX RESOURCES BERHAD ("TADMAX" OR "COMPANY")

(I)	PROPOSED ACQUISITION; AND

(II)	PROPOSED EXEMPTION

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

On behalf of the Board of Directors of Tadmax (“Board”), Hong Leong Investment Bank Berhad (“HLIB”) wishes to announce that the Company had on 4 June 2020, entered into a conditional sale of shares agreement (“SSA”) with Maxim Holdings for the proposed acquisition of 100% equity interest in Majestic Maxim Sdn Bhd (“Majestic Maxim”) by Tadmax from Maxim Holdings Sdn Bhd (“Maxim Holdings” or “Vendor”) for a consideration of RM115,000,000 to be satisfied entirely via the issuance of 469,387,755 new ordinary shares in Tadmax (“Tadmax Shares”) at an issue price of RM0.245 per Tadmax Share (“Proposed Acquisition”).

In conjunction with the Proposed Acquisition, Maxim Holdings, being the offeror, and the persons acting in concert with it (“PACs”) intend to seek an exemption from the Securities Commission Malaysia (“SC”) under Paragraph 4.08(1)(a) of the Rules on Take-Overs, Mergers and Compulsory Acquisitions (“Rules”) from the obligation to undertake a mandatory take over offer (“Mandatory Offer”) to acquire the remaining Tadmax Shares not already owned by them upon the completion of the Proposed Acquisition (“Proposed Exemption”).

Kindly refer to the attached document for further details on the Proposals.

This announcement is dated 4 June 2020.




Please refer attachment below.



Announcement Info

Company Name TADMAX RESOURCES BERHAD
Stock Name TADMAX
Date Announced 04 Jun 2020
Category General Announcement for PLC
Reference Number GA1-04062020-00026



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