CORPORATE INFORMATION
FINANCIAL INFORMATION
INVEST IN US
NEWS & EVENTS
 

Bursa Announcements

Date : 24 July 2012

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): RELATED PARTY TRANSACTIONS TH PLANTATIONS BERHAD (“THP” OR THE “COMPANY”) (I) PROPOSED ACQUISITIONS OF THE ENTIRE EQUITY INTEREST IN TH LADANG (SABAH & SARAWAK) SDN BHD AND 70% EQUITY INTEREST IN TH BAKTI SDN BHD FOR AN AGGREGATE PURCHASE CONSIDERATION OF RM535,640,000; (II) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF THP FROM THE EXISTING RM350,000,000 COMPRISING 700,000,000 ORDINARY SHARES OF RM0.50 EACH IN THP (“THP SHARES”) TO RM500,000,000 COMPRISING 1,000,000,000 THP SHARES; AND (III) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF THP

TH PLANTATIONS BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
DescriptionTH PLANTATIONS BERHAD (“THP” OR THE “COMPANY”)

(I) PROPOSED ACQUISITIONS OF THE ENTIRE EQUITY INTEREST IN TH LADANG (SABAH & SARAWAK) SDN BHD AND 70% EQUITY INTEREST IN TH BAKTI SDN BHD FOR AN AGGREGATE PURCHASE CONSIDERATION OF RM535,640,000;

(II) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF THP FROM THE EXISTING RM350,000,000 COMPRISING 700,000,000 ORDINARY SHARES OF RM0.50 EACH IN THP (“THP SHARES”) TO RM500,000,000 COMPRISING 1,000,000,000 THP SHARES; AND

(III) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF THP

On behalf of the Board of Directors of THP (“Board”), RHB Investment Bank Berhad (“RHB Investment Bank”) wishes to announce that the Company has, on 24 July 2012, accepted an offer from its major shareholder, Lembaga Tabung Haji (“TH” or “Vendor”) vide an offer letter dated 23 July 2012, for the Company to enter into the following:-

(a)    proposed acquisition of the entire equity interest in TH Ladang (Sabah & Sarawak) Sdn Bhd (“THLSS”) from TH for a purchase consideration of RM518,000,000 to be satisfied via the issuance of 202,343,750 new THP Shares (“Consideration Shares”) at an issue price of RM2.56 per Consideration Share (“Proposed THLSS Acquisition”); and

(b)    proposed acquisition of 70% equity interest in TH Bakti Sdn Bhd (“THB”) from TH for a purchase consideration of RM17,640,000 to be satisfied via the issuance of 6,890,625 Consideration Shares at an issue price of RM2.56 per Consideration Share (“Proposed THB Acquisition”).

(THLSS and THB are hereinafter collectively referred to as the “Acquiree Companies”. The Proposed THLSS Acquisition and Proposed THB Acquisition are hereinafter collectively referred to as the “Proposed Acquisitions”).

In addition, the Company will undertake an increase in the authorised share capital of the Company from the existing RM350,000,000 comprising 700,000,000 THP Shares to RM500,000,000 comprising 1,000,000,000 THP Shares (“Proposed IASC”).

In consequence thereof, the Memorandum and Articles of Association of the Company will be amended accordingly to reflect the increase in the authorised share capital (“Proposed Amendments”).

(The Proposed Acquisitions, Proposed IASC and Proposed Amendments are hereinafter collectively referred to as the “Proposals”).

The terms and conditions of the Proposed Acquisitions will be subject to the signing of a definitive share sale agreement (“SSA”) to be entered into between TH and the Company at a date to be determined later and further announcement will be made upon the execution of the SSA.

Further details of the Proposals are set out in the attachment.

This Announcement is dated 24 July 2012.

Attachments

Announcement.pdf
421 KB



Announcement Info

Company NameTH PLANTATIONS BERHAD  
Stock Name THPLANT    
Date Announced24 Jul 2012  
CategoryGeneral Announcement
Reference NoMI-120724-68281
Back

 
 
FINANCIAL INFORMATION
Quarterly Results
Annual Reports
Financial Highlights
Financial Statements
Factsheet Ratios
Quarterly Highlights
INVEST IN US
Interactive Stock Chart
Analyst Coverage
Investment Calculator
Glossary
IR Contact
Email Alerts
NEWS & EVENTS
Bursa Announcements
THP in the Media
Media Releases
JOIN US
CONTACT US
Copyright © 2019 TH Plantations Berhad (12696-M) | All rights reserved | Disclaimer
DESIGNED BY :