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BURSA ANNOUNCEMENTS

Date : 11 August 2014

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS TALIWORKS CORPORATION BERHAD - JOINT VENTURE VIA SHARE SALE AND PURCHASE AGREEMENT BETWEEN THE COMPANY, PINGGIRAN MUHIBBAH SDN. BHD. AND THE EMPLOYEES PROVIDENT FUND BOARD

TALIWORKS CORPORATION BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionTALIWORKS CORPORATION BERHAD
- JOINT VENTURE VIA SHARE SALE AND PURCHASE AGREEMENT BETWEEN THE COMPANY, PINGGIRAN MUHIBBAH SDN. BHD. AND THE EMPLOYEES PROVIDENT FUND BOARD

Further to the announcements made on 23 June 2014 and 8 August 2014 on the re-organisation of the Company, the Board of Directors of TCB is pleased to announce that TCB and Pinggiran Muhibbah Sdn. Bhd. (Company No. 1037289-K) (“Pinggiran Muhibbah”) had entered into a Share Sale and Purchase Agreement (“SSPA”) with the Employees Provident Fund Board (“EPF”) to dispose its 100% equity interest in Pinggiran Ventures Sdn. Bhd. (Company No. 1101930-W) (“Pinggiran Ventures”) comprising 10,000 ordinary shares of RM1.00 each and 68,673,000 redeemable non-cumulative preference shares of RM0.001 each to EPF for a total consideration of RM68.683 million upon the terms and conditions in the SSPA. Pursuant to the SSPA, the Company, Pinggiran Muhibbah, Pinggiran Ventures, Employees Provident Fund Board and Pinggiran Infrastructure Sdn. Bhd. (Company No. 1120436-D) (“Pinggiran Infrastructure”) will enter into a Shareholders Agreement for the purpose of setting out the shareholders’ mutually agreed rights, duties, liabilities and obligations to each other as shareholders of Pinggiran Infrastructure upon completion of the SSPA.

Further details of the Joint Venture via Share Sale and Purchase Agreement is provided in the attachment attached herein.

This announcement is dated 11 August 2014.



Announcement Info

Company NameTALIWORKS CORPORATION BERHAD  
Stock Name TALIWRK    
Date Announced11 Aug 2014  
CategoryGeneral Announcement
Reference NoCK-140811-6EFE6

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