TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): RELATED PARTY TRANSACTIONS JOBSTREET CORPORATION BERHAD (“JOBSTREET” OR “COMPANY”) (I) PROPOSED DISPOSALS (II) PROPOSED DISTRIBUTION (COLLECTIVELY KNOWN AS THE “PROPOSALS”
| JOBSTREET CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | JOBSTREET CORPORATION BERHAD (“JOBSTREET” OR “COMPANY”) (I) PROPOSED DISPOSALS (II) PROPOSED DISTRIBUTION (COLLECTIVELY KNOWN AS THE “PROPOSALS” |
This announcement should be read in conjunction with the earlier announcements made on 19 February 2014, 21 February 2014, 29 April 2014, 12 May 2014, 14 May 2014, 15 May 2014, 24 June 2014, 1 July 2014, 19 August 2014, 21 August 2014 and 9 October 2014 in relation to the Proposals (“Announcements”). Unless otherwise defined, the terms used in this announcement shall have the same meaning as those defined in the said Announcements in relation to the Proposals. On behalf of the Board, Affin Hwang Investment Bank Berhad wishes to announce that CCS had, as set out in their media release dated 31 October 2014, as attached, issued a favourable decision in respect of the Proposed Disposals. The CCS concluded that the Proposed Disposals, if carried into effect, will not infringe the section 54 prohibition of the Singapore Competition Act (Cap. 50B), subject to the implementation of, and compliance by SEEK, with the Proposed Commitments and the Proposed Divestiture Commitment. In issuing the favourable decision, the CCS has accepted the Proposed Commitments offered by SEEK in order to address the potential competition concerns that may arise as a result of the Proposed Disposals. In addition, the CCS has also accepted the Proposed Divestiture Commitment offered by SEEK in order to address the potential competition concerns in respect of SEEK’s ownership and operations of jobs.com.sg in Singapore. Please refer to the attached document from the CCS with regards to the Proposed Disposals for further details. With the above favourable decision from the CCS, all the conditions precedent to the closing of the Proposed Disposals have been satisfied or waived in accordance with the terms of the SSA.
Barring any unforeseen circumstances, the Board expects the Proposed Disposals to be completed within November 2014 whilst the Proposed Distribution is expected to be completed by the end of 4th quarter 2014. Further details will be announced in due course.
This announcement is dated 31 October 2014. | |
Announcement Info
| Company Name | JOBSTREET CORPORATION BERHAD |
| Stock Name | JOBST |
| Date Announced | 31 Oct 2014 |
| Category | General Announcement |
| Reference No | OD-141031-53157 |
