KUALA LUMPUR: Sungei Bagan Rubber Company (Malaya) Bhd has clarified that the transfer of agricultural land in Semenyih, Selangor, which was initially part of its acquisition deal with Kuchai Development Bhd, has been entirely excluded from the agreement signed on Dec 29, 2023
$KUCHAI / 2186 (KUCHAI DEVELOPMENT BERHAD)
$SBAGAN / 2569 (SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD)
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONSSUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD
I. PROPOSED ACQUISITION;
II. PROPOSED KDB EXEMPTION; AND
III. PROPOSED KRCB EXEMPTION
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
$SBAGAN / 2569 (SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD)
$KUCHAI / 2186 (KUCHAI DEVELOPMENT BERHAD)
$KLUANG / 2453 (KLUANG RUBBER COMPANY (MALAYA) BERHAD)
CIRCULAR TO SHAREHOLDERS IN RELATION TO THE (I) PROPOSED ACQUISITION OF SUBSTANTIALLY ALL OF THE ASSETS AND LIABILITIES OF KUCHAI DEVELOPMENT BERHAD ("KDB") FOR A TOTAL CONSIDERATION OF UP TO RM275.47 MILLION, WHICH WILL BE SATISFIED THROUGH THE ALLOTMENT AND ISSUANCE OF UP TO 27,519,500 NEW ORDINARY SHARES IN SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD ("SG BAGAN") ("SHARES") ("CONSIDERATION SHARES") AT AN ISSUE PRICE OF RM10.01 PER CONSIDERATION SHARE ("PROPOSED ACQUISITION"); (II) PROPOSED EXEMPTION UNDER SUBPARAGRAPH 4.08(1)(A) OF THE RULES ON TAKE-OVERS, MERGERS AND COMPULSORY ACQUISITIONS ("RULES") TO KDB AND PERSONS ACTING IN CONCERT ("PACs") WITH IT FROM THE OBLIGATION TO UNDERTAKE A MANDATORY OFFER ("MO") FOR ALL THE REMAINING SHARES NOT ALREADY HELD BY THEM UPON COMPLETION OF THE PROPOSED ACQUISITION ("PROPOSED KDB EXEMPTION"); AND (III) PROPOSED EXEMPTION UNDER SUBPARAGRAPH 4.08(1)(A) OF THE RULES TO KLUANG RUBBER COMPANY (MALAYA) BERHAD ("KRCB") AND PACs WITH IT FROM THE OBLIGATION TO UNDERTAKE A MO FOR ALL THE REMAINING SHARES NOT ALREADY HELD BY THEM UPON COMPLETION OF THE PROPOSED DISTRIBUTION BY KDB OF ALL OF THE CONSIDERATION SHARES TO THE ENTITLED SHAREHOLDERS OF KDB WHOSE NAMES APPEAR IN THE RECORD OF DEPOSITORS OF KDB ON A DATE TO BE DETERMINED LATER BY WAY OF DIVIDEND-IN-SPECIE AND CAPITAL REDUCTION AND REPAYMENT ("PROPOSED KRCB EXEMPTION")
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONSSUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD
I. PROPOSED ACQUISITION;
II. PROPOSED KDB EXEMPTION; AND
III. PROPOSED KRCB EXEMPTION
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONSSUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD
I. PROPOSED ACQUISITION;
II. PROPOSED KDB EXEMPTION; AND
III. PROPOSED KRCB EXEMPTION
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONSSUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD
I. PROPOSED ACQUISITION; AND
II. PROPOSED EXEMPTION
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONSSUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD
I. PROPOSED ACQUISITION; AND
II. PROPOSED EXEMPTION
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
KUALA LUMPUR: Kuchai Development Bhd has entered into a conditional master sale and purchase agreement with Sungei Bagan Rubber Company (Malaya) Bhd to dispose of substantially all the assets and liabilities in Kuchai Development to Sungei Bagan Rubber Company at a disposal consideration of RM275.47 million.
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONSSUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD
I. PROPOSED ACQUISITION; AND
II. PROPOSED EXEMPTION
(COLLECTIVELY REFERRED TO AS THE PROPOSALS)