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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") - UTILISATION OF PROCEEDS AND SECOND SUPPLEMENTAL SHARE SALE AND PURCHASE AGREEMENT

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")
- UTILISATION OF PROCEEDS AND SECOND SUPPLEMENTAL SHARE SALE AND PURCHASE AGREEMENT

Reference is made to the announcements dated 13 March 2020, 17 March 2020, and 22 April 2020 in relation to the Proposed Disposal.  The Company wishes to expand and/or furnish additional disclosure as below.

 

Unless stated otherwise, the abbreviations hereinunder used/refers to in this Announcement shall carry the same meaning as defined in the announcements dated 13 March 2020, 17 March 2020 and 22 April 2020.

 

[A] UTILISATION OF PROCEEDS

The Board has resolved to amend the “Utilisation of Proceeds” as appearing under section 2.7 of the announcement dated 13 March 2020.

 

The details of the Amendments are highlighted in bold and underlined as indicated in Part A of the attachment.

 

[B] SECOND SUPPLEMENTAL SHARE SALE AND PURCHASE AGREEMENT

The Board of Directors of Tadmax wishes to announce that the Company had on 10 July 2020 entered into a second supplemental share sale and purchase agreement with WHB (“2nd Supplemental SSA”) to extend the Approval Period to a period of 201 days from the date of the SSA or such later date as may be mutually agreed between the parties.

 

With the above extension, the Approval Period of the SSA will end on 30 September 2020.

 

For further details, kindly refer to the attachment.

 

This announcement is dated 10 July 2020.




Please refer attachment below.



Announcement Info

Company Name TADMAX RESOURCES BERHAD
Stock Name TADMAX
Date Announced 10 Jul 2020
Category General Announcement for PLC
Reference Number GA1-10072020-00016



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