Announcements

Date : 28 June 2013

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS PROTASCO BERHAD (“PB” OR THE “COMPANY”) PROPOSED ACQUISITION OF 95,000,000 ORDINARY SHARES OF IDR 1,000 EACH IN PT ANGLO SLAVIC INDONESIA (“PT ASI”) (“PT ASI SHARE(S)”), REPRESENTING 76% EQUITY INTEREST IN PT ASI FROM PT ANGLO SLAVIC UTAMA (“PT ASU” OR “VENDOR”) (“PROPOSED ACQUISITION”)

PROTASCO BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROTASCO BERHAD (“PB” OR THE “COMPANY”)

PROPOSED ACQUISITION OF 95,000,000 ORDINARY SHARES OF IDR 1,000 EACH IN PT ANGLO SLAVIC INDONESIA (“PT ASI”) (“PT ASI SHARE(S)”), REPRESENTING 76% EQUITY INTEREST IN PT ASI FROM PT ANGLO SLAVIC UTAMA (“PT ASU” OR “VENDOR”) (“PROPOSED ACQUISITION”)

Reference is made to the Company’s announcement dated 28 December 2012 in relation to the Proposed Acquisition (“Announcement”).

Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcement.

On behalf of the Board of Directors of PB (“Board”), AmInvestment Bank Berhad wishes to announce that PB had on 28 June 2013 entered into a supplemental agreement with the Vendor to revise the following terms and conditions of the Proposed Acquisition (“Supplemental Agreement”):

(a) to extend the period to complete the Due Diligence (“Due Diligence Period”) to 31 July 2013;

(b) to extend the period for the parties to obtain all Conditions Precedent (“Condition Period”) to 30 September 2013;
    (c) to include an additional condition precedent whereby the Vendor shall use its best endeavours, at its own costs, to obtain in writing binding extension to the PMP Agreement made between Pertamina and PT Haseba beyond its current expiry on 14 December 2014 on the best terms possible; and
      (d) to insert an additional clause to clarify that the Vendor shall bear all additional costs as may be incurred by PB in completing the Due Diligence and obtaining all approvals as a consequence of PB agreeing to the Vendor’s request to extend the Due Diligence Period and Condition Period accordingly.

      This announcement is dated 28 June 2013.

      Announcement Info

      Company NamePROTASCO BERHAD  
      Stock Name PRTASCO    
      Date Announced28 Jun 2013  
      CategoryGeneral Announcement
      Reference NoMB-130628-57945

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