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MULTIPLE PROPOSALS BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD ("BHIC" OR "COMPANY") (I) PROPOSED DISPOSAL; AND (II) PROPOSED INTERCOMPANY TRADE RECEIVABLES SETTLEMENT AGREEMENT ("ITRSA") (PROPOSED ITRSA") (COLLECTIVELY REFERRED TO AS "PROPOSALS")

BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD ("BHIC" OR "COMPANY")

(I) PROPOSED DISPOSAL; AND
(II) PROPOSED INTERCOMPANY TRADE RECEIVABLES SETTLEMENT AGREEMENT ("ITRSA") (PROPOSED ITRSA")

(COLLECTIVELY REFERRED TO AS "PROPOSALS")

On behalf of the Board of Directors of BHIC, Malacca Securities Sdn. Bhd. (“Malacca Securities”) wishes to announce that BHIC has on 3 April 2024 issued a letter of agreement (“LOA”) to Lumut Naval Shipyard Sdn Bhd (formerly known as Boustead Naval Shipyard Sdn Bhd) ("LUNAS") and LUNAS has accepted the LOA to enter into an ITRSA after BHIC has obtained its shareholders’ approval for the Proposed ITRSA, which is one of the conditions precedent to be fulfilled in the share sale agreement dated 18 August 2023 in relation to the Proposed Disposal.

 

Please refer to the attachment for further details.

 

This announcement is dated 3 April 2024.




Please refer attachment below.



Announcement Info

Company Name BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD
Stock Name BHIC
Date Announced 03 Apr 2024
Category General Announcement for PLC
Reference Number GA1-03042024-00041



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