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Circular/Notice to Shareholders

BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD

Subject CIRCULAR TO SHAREHOLDERS IN RELATION TO: PART A (I) PROPOSED DISPOSAL OF 27,000,001 ORDINARY SHARES IN LUMUT NAVAL SHIPYARD SDN. BHD. (FORMERLY KNOWN AS BOUSTEAD NAVAL SHIPYARD SDN. BHD.) ("LUNAS") HELD BY PERSTIM INDUSTRIES SDN. BHD., AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD ("BHIC") TO OCEAN SUNSHINE BERHAD FOR A CASH CONSIDERATION OF RM1.00 AND THE WAIVER OF TRADE RECEIVABLES OWING BY LUNAS TO BHIC AND ITS RELEVANT SUBSIDIARIES OF THE AMOUNT OF APPROXIMATELY RM334.73 MILLION PURSUANT TO THE PROPOSED ITRSA (AS DEFINED HEREIN) ("PROPOSED DISPOSAL"); AND (II) PROPOSED INTERCOMPANY TRADE RECEIVABLES SETTLEMENT AGREEMENT ("ITRSA") ("PROPOSED ITRSA") (COLLECTIVELY REFERRED TO AS "PROPOSALS") PART B INDEPENDENT ADVICE LETTER FROM ASIA EQUITY RESEARCH SDN BHD TO THE NON-INTERESTED SHAREHOLDERS OF BHIC IN RELATION TO THE PROPOSALS


Please refer attachment below.



Announcement Info

Company Name BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD
Stock Name BHIC
Date Announced 15 Apr 2024
Category Document Submission
Reference Number DCS-15042024-00064



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