MULTIPLE PROPOSALS VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") I. PROPOSED ACQUISITION; II. PROPOSED SUBSCRIPTION; AND III. PROPOSED CONSTITUTION AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
|VIVOCOM INTL HOLDINGS BERHAD|
VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") I. PROPOSED ACQUISITION; II. PROPOSED SUBSCRIPTION; AND III. PROPOSED CONSTITUTION AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
On behalf of the Board of Directors of Vivocom, UOB Kay Hian Securities (M) Sdn Bhd wishes to announce that the Company had on 5 November 2020, entered into the following definitive agreements:-
(i) the conditional share sale agreement with Dato' Seri Chia Kok Teong for the acquisition by Vivocom of 113,535,000 ordinary shares of V Development Sdn Bhd ("V Development"), representing 45.0% equity interest of V Development for a purchase consideration of RM171,000,000 ("Purchase Consideration") ("Proposed Acquisition"); and
(ii) the subscription agreement with Golden Key Portfolio Sdn Bhd for a private placement of 169,936,172 ordinary shares in Vivocom ("Shares") ("Subscription Shares"), representing 30.0% of the total issued Shares at the subscription price of RM0.35 per Subscription Share ("Proposed Subscription").
In conjunction with the Proposed Acquisition, the Company proposes to undertake an amendment to the Constitution of Vivocom as the Purchase Consideration may involve the issuance of irredeemable convertible preference shares ("Proposed Constitution Amendments").
Further details on the Proposals are set out in the attachment enclosed.
This announcement is dated 5 November 2020.
Please refer attachment below.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||05 Nov 2020|
|Category||General Announcement for PLC|