PROPOSED ACQUISITION OF 2,000,000 ORDINARY SHARES OF RM1.00 EACH IN HYRAX OIL SDN BHD ("HYRAX"), REPRESENTING THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF HYRAX AT A TOTAL PURCHASE CONSIDERATION OF RM50,000,000 TO BE SATISFIED BY THE ISSUE OF 50,000,000 NEW ORDINARY SHARES OF RM0.50 EACH IN MAICA AT AN ISSUE PRICE OF RM1.00 PER SHARE ("PROPOSED ACQUISITION")

BackJan 11, 2005
Type Announcement
Subject MALAYSIA AICA BERHAD ("MAICA")

PROPOSED ACQUISITION OF 2,000,000 ORDINARY SHARES OF RM1.00 EACH IN HYRAX OIL SDN BHD ("HYRAX"), REPRESENTING THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF HYRAX AT A TOTAL PURCHASE CONSIDERATION OF RM50,000,000 TO BE SATISFIED BY THE ISSUE OF 50,000,000 NEW ORDINARY SHARES OF RM0.50 EACH IN MAICA AT AN ISSUE PRICE OF RM1.00 PER SHARE ("PROPOSED ACQUISITION")

Contents :

We refer to the announcements made by Commerce International Merchant Bankers Berhad (“CIMB”) on behalf of MAICA on 14 January 2004 and 9 July 2004 pertaining to, amongst others, the sale and purchase of shares agreement (“Share Sale Agreement”) and the supplemental agreement (“Supplemental Agreement”) in relation to the Proposed Acquisition.


On behalf of MAICA, CIMB wishes to announce that MAICA and Md. Nahar Bin Noordin, Hazimah Binti Zainuddin, Shah Hakim @ Shahzanim Bin Zain, Kamaluddin Bin Abdullah, Wan Pauzi Bin Yahya, Dato' Mohamed Azman Bin Yahya and Che Roslan Bin Abdul Ghani (the “Vendors”) have via a letter dated 11 January 2005, agreed to extend the cut-off date to fulfill the conditions precedent as detailed in the Share Sale Agreement and extended by the Supplemental Agreement, by a further period of twelve (12) months, expiring on 10 January 2006 or such later date that MAICA and the Vendors may hereafter agree in writing.

(This announcement is dated 11 January 2005).

 

Announcement Info

Company Name MALAYSIA AICA BERHAD  
Stock Name MAICA    
Date Announced 11 Jan 2005  
Category General Announcement
Reference No MM-050111-54028