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MULTIPLE PROPOSALS MAYBULK BERHAD (FORMERLY KNOWN AS MALAYSIAN BULK CARRIERS BERHAD) ("MBC" OR THE "COMPANY") (I) PROPOSED ACQUISITION; (II) PROPOSED JOINT VENTURE; AND (III) PROPOSED DIVERSIFICATION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

MAYBULK BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
MAYBULK BERHAD (FORMERLY KNOWN AS MALAYSIAN BULK CARRIERS BERHAD) ("MBC" OR THE "COMPANY")

(I)	PROPOSED ACQUISITION;

(II)	PROPOSED JOINT VENTURE; AND

(III)	PROPOSED DIVERSIFICATION 

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

Unless otherwise defined, the abbreviations and definitions used in the announcements dated 29 August 2023, 23 November 2023 and 8 January 2024 ("Announcements") and the circular to the shareholders of MBC dated 9 November 2023 ("Circular") in relation to the Proposals shall apply herein.

 

We refer to the Announcements and the Circular in relation to the Proposals.

 

On behalf of the Board, Kenanga IB wishes to announce that on 8 January 2024, the Company had subscribed for 59,999 new ordinary shares in MBC Logistic Hub (“MBCLH Share(s)”) and the new MBCLH Shares have been allotted and issued to MBC on even date.

 

The Companies Commission of Malaysia has approved the above allotment on 15 January 2024.

 

Prior to the subscription of the MBCLH Shares by MBC, MBC holds the entire share capital of MBC Logistic Hub consisting of 1 MBCLH Share. Accordingly, MBC and GVVSB now hold a total of 100,000 MBCLH Shares in the proportion of 60:40 in accordance with the terms as stipulated in the SSA. MBC Logistic Hub has become a 60%-owned subsidiary of MBC, while GVVSB holds the remaining 40% equity interests in MBC Logistic Hub.

 

This announcement is dated 16 January 2024.

 






Announcement Info

Company Name MAYBULK BERHAD
Stock Name MAYBULK
Date Announced 16 Jan 2024
Category General Announcement for PLC
Reference Number GA1-16012024-00056



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