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OTHERS TADMAX RESOURCES BERHAD ("TADMAX" or "the Company") (I) PROPOSED DISPOSAL OF 35% EQUITY INTEREST IN PULAU INDAH POWER PLANT SDN BHD (FORMERLY KNOWN AS TADMAX INDAH POWER SDN BHD) ("PIPP") BY TADMAX TO WORLDWIDE HOLDINGS BERHAD ("WHB") FOR A CASH CONSIDERATION OF RM58,450,000 ("PROPOSED DISPOSAL TO WHB"); AND (II) PROPOSED DISPOSAL OF 25% EQUITY INTEREST IN PIPP BY TADMAX TO KOREA ELECTRIC POWER CORPORATION ("KEPCO") FOR A CASH CONSIDERATION OF RM41,750,000 ("PROPOSED DISPOSAL TO KEPCO")

TADMAX RESOURCES BERHAD

Type Announcement
Subject OTHERS
Description
TADMAX RESOURCES BERHAD ("TADMAX" or "the Company")

(I) PROPOSED DISPOSAL OF 35% EQUITY INTEREST IN PULAU INDAH POWER PLANT SDN BHD (FORMERLY KNOWN AS TADMAX INDAH POWER SDN BHD) ("PIPP") BY TADMAX TO WORLDWIDE HOLDINGS BERHAD ("WHB") FOR A CASH CONSIDERATION OF RM58,450,000 ("PROPOSED DISPOSAL TO WHB"); AND

(II) PROPOSED DISPOSAL OF 25% EQUITY INTEREST IN PIPP BY TADMAX TO KOREA ELECTRIC POWER CORPORATION ("KEPCO") FOR A CASH CONSIDERATION OF RM41,750,000 ("PROPOSED DISPOSAL TO KEPCO")

Reference is made to the announcements dated 13 March 2020, 17 March 2020, 22 April 2020, 10 July 2020 and 28 September 2020 (collectively “Announcements 1”) in relation to the Proposed Disposal to WHB and the announcements dated 21 April 2020, 10 July 2020 and 28 September 2020  (collectively “Announcements 2”) in relation to the Proposed Disposal to Kepco (both collectively referred to as “the Proposed Disposals”).

 

Unless stated otherwise, the abbreviations and definitions used hereinunder shall have the same meaning as the words and expressions defined in the above respective Announcements 1 and Announcements 2.

 

Further to the announcement on 28 September 2020 on the approval of the shareholders’ of Tadmax in relation to the Proposed Disposals, Tadmax wishes to announce that the Company had on 29 September 2020 completed the Proposed Disposals with both WHB and Kepco.  With this completion, PIPP is now a 40% associated company of Tadmax.

 

This announcement is dated 29 September 2020.






Announcement Info

Company Name TADMAX RESOURCES BERHAD
Stock Name TADMAX
Date Announced 29 Sep 2020
Category General Announcement for PLC
Reference Number GA1-28092020-00096



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