OTHERS VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") HEADS OF AGREEMENTS
|VIVOCOM INTL HOLDINGS BERHAD|
VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") HEADS OF AGREEMENTS
On behalf of the Board of Directors of Vivocom ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOB Kay Hian") wishes to announce that the Company had on, 27 October 2020, executed the following:-
i. Heads of agreement entered into between Vivocom and Dato' Seri Chia Kok Teong ("Dato' Seri Chia") to explore and pursue a potential acquisition of V-Development Sdn Bhd ("V-Development"), on which Dato' Seri Chia, being one of the shareholders, may sell and Vivocom may purchase ordinary shares of V-Development ("Sale Shares"), which will be satisfied via a combination of cash and issuance of ordinary shares of Vivocom ("Vivocom Share(s)") ("HOA I"); and
ii. Heads of agreement entered into between Vivocom and Golden Key Portfolio Sdn Bhd ("GKPSB"), to explore and pursue a potential investment/ subscription in Vivocom Shares, of which the Company may allot and issue to GKPSB and GKPSB may subscribe for Vivocom Shares ("Proposed Subscription") ("HOA II").
HOA I and HOA II are collectively referred to as "Heads of Agreements"; Proposed Acquisition and Proposed Subscription are collectively referred to as the "Proposals".
Further details of the Proposals are set out in the attachment enclosed.
This announcement is dated 27 October 2020.
Please refer attachment below.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||27 Oct 2020|
|Category||General Announcement for PLC|