The Board of Directors of M&G (“Board”) wishes to announce that M&G Tankers Sdn Bhd (“M>”), had, on 17 July 2020, entered into a sale and purchase agreement (“SPA”) with Teng Keng Han (“Teng”) for the acquisition of the remaining 30% equity interest in TKH Marine (L) Ltd (“TKH Marine”) (“Acquisition”). M> is a wholly-owned subsidiary of M&G Marine Logistics Holdings Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company.
Further details of the Acquisition are set out in the attachment.
This announcement is dated 17 July 2020.