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 |
| Type | Announcement |
| Subject | TRANSACTIONS (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 announcements dated 28 December 2012, 28 June 2013, 1 August 2013 and 3 September 2013 in relation to the Proposed Acquisition (“Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcements. On behalf of the Board of Directors of PB (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) wishes to announce that PT ASU and PB had on 30 September 2013, via an exchange of letters, agreed to extend the Due Diligence Period and Condition Period for a further six (6) months to 31 March 2014 to complete the Proposed Acquisition. The request by PT ASU for an extension of the Due Diligence Period and the Condition Period to 31 March 2014 is due to the following:- (i) substantial time required to compile and reply to the extensive list of information and documentation requested by PB pursuant to the legal, financial and technical due diligence/valuation process; and (ii) to accommodate Pertamina’s evaluation and approval process to approve PT Haseba’s request for an extension of ten (10) years to expire on 14 December 2024, to the PMP Agreement for the KST Field. This announcement is dated 30 September 2013. | |
Announcement Info
| Company Name | PROTASCO BERHAD |
| Stock Name | PRTASCO |
| Date Announced | 30 Sept 2013 |
| Category | General Announcement |
| Reference No | MB-130930-38687 |