TERMINATION OF THE SHARE SALE AGREEMENT ("SSA") DATED 10 SEPTEMBER 2001 BETWEEN SITT TATT BERHAD ("STB") AND MISL & ASSOCIATES SDN BHD ("MISL") IN RESPECT OF THE ACQUISITIONS OF PYRAMID MANUFACTURING INDUSTRIES PTE LTD, CEM MACHINERY PTE LTD AND PMI PLATING SERVICES PTE LTD FOR RM184,288,000 SATISFIED BY ISSUANCE OF 125,125,000 ORDINARY SHARES OF RM1.00 EACH IN STB AT AN ISSUE PRICE OF RM1.20 EACH ("CONSIDERATION SHARES") AND ISSUANCE OF 34,138,000 IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES OF RM1.00 EACH IN STB AT AN ISSUE PRICE OF RM1.00 EACH ("ICPS")
| SITT TATT BERHAD |
|
Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | TH-030715-34659 |
| Subject | TERMINATION OF THE SHARE SALE AGREEMENT ("SSA") DATED 10 SEPTEMBER 2001 BETWEEN SITT TATT BERHAD ("STB") AND MISL & ASSOCIATES SDN BHD ("MISL") IN RESPECT OF THE ACQUISITIONS OF PYRAMID MANUFACTURING INDUSTRIES PTE LTD, CEM MACHINERY PTE LTD AND PMI PLATING SERVICES PTE LTD FOR RM184,288,000 SATISFIED BY ISSUANCE OF 125,125,000 ORDINARY SHARES OF RM1.00 EACH IN STB AT AN ISSUE PRICE OF RM1.20 EACH ("CONSIDERATION SHARES") AND ISSUANCE OF 34,138,000 IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES OF RM1.00 EACH IN STB AT AN ISSUE PRICE OF RM1.00 EACH ("ICPS") |
Contents :
We refer to your letter dated 15 July 2003 and append below our reply as follows:-1. Mr Chiang Cheng Leong ("CCL") will become a registered shareholder of STB upon the transfer of the Consideration Shares and ICPS by MISL to him in accordance with Clause 9.2(d) of the SSA ;
2. We wish to clarify that the Consideration Shares and ICPS are not to be transferred to STB. The treatment of the Consideration Shares and ICPS will be determined after the outcome of the pending suits.
Query Letter Contents :
We refer to your announcements dated 14 July 2003 in respect of the aforesaid
matters.
In this connection, please furnish the Exchange with the following additional
information for public release:-
1. The role of Mr. Chiang Cheng Leong in respect of the transfer of the
Consideration Shares and ICPS to him.
2. The treatment of the Consideration Shares and ICPS upon the same being
transferred to Sitatt/Mr. Chiang Cheng Leong by MISL.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Kindly note to make immediate announcement for public release in respect of any
developments relating to the above.
Yours faithfully
LISA LAM
Senior Manager
Listing Operations
LL/YYT/GTH
Announcement Info
| Company Name | SITT TATT BERHAD |
| Stock Name | SITATT |
| Date Announced | 16 Jul 2003 |
| Category | General Announcement |
| Reference No | ST-030716-65384 |
