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OTHERS PROPOSED DISPOSAL OF 27,000,001 ORDINARY SHARES IN BOUSTEAD NAVAL SHIPYARD SDN. BHD. (BNS) HELD BY PERSTIM INDUSTRIES SDN. BHD. (PISB OR VENDOR), AN INDIRECT WHOLLY OWNED SUBSIDIARY OF BHIC, FOR A CASH CONSIDERATION OF RM1.00 (HEREINAFTER REFERRED TO AS THE PROPOSED DISPOSAL)

BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD

Type Announcement
Subject OTHERS
Description
PROPOSED DISPOSAL OF 27,000,001 ORDINARY SHARES IN BOUSTEAD NAVAL SHIPYARD SDN. BHD. (BNS) HELD BY PERSTIM INDUSTRIES SDN. BHD. (PISB OR VENDOR), AN INDIRECT WHOLLY OWNED SUBSIDIARY OF BHIC, FOR A CASH CONSIDERATION OF RM1.00 (HEREINAFTER REFERRED TO AS THE PROPOSED DISPOSAL)

The terms used herein shall have the same meaning as those defined in the announcement dated 21 August 2023.

 

We refer to the announcements dated 29 May 2023, 21 August 2023, 4 October 2023 and 1 November 2023 in relation to the Proposed Disposal.

 

Pursuant to the SSA and the subsequent agreements between the Parties, the Conditional Period for the fulfilment of the Conditions Precedent for the Proposed Disposal was extended up to 1 December 2023 (“Second Extended Conditional Period”). As the Parties require additional time for the fulfilment of the Conditions Precedent, the Company and the Purchaser have mutually agreed to extend the Second Extended Conditional Period of the SSA for a further period up to 31 December 2023 (“Third Extended Conditional Period”).

 

For avoidance of doubt, all other terms, and conditions of the SSA remain unchanged.

 

This announcement is dated 1 December 2023.






Announcement Info

Company Name BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD
Stock Name BHIC
Date Announced 01 Dec 2023
Category General Announcement for PLC
Reference Number GA1-01122023-00057



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