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, 9 October 2014 and 31 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 of Directors of the Company (“Board”), Affin Hwang Investment Bank Berhad, wishes to announce that on even date, a total amount of RM1,562.8 million, being the Closing Payment (calculated as the Adjusted Consideration minus the Set-Off Amount), has been paid by SEEK Asia Investments Pte Ltd to the Company in accordance with the SSA and the Amendment Letter. The Adjusted Consideration is calculated as the Amended Disposal Consideration plus the Estimated Amount (as defined in Section 3.2.2 of the Circular dated 29 April 2014). The balance of RM369.9 million, being the Set-Off Amount shall be set-off against the special cash dividend payable to Seek International Investment Pty Ltd pursuant to the Proposed Distribution in accordance to the SSA, Amendment Letter and as detailed in Section 3.2.2 of the Circular dated 29 April 2014. In view of the above, the Proposed Disposals have been completed (“Closing”) and the Disposal Companies have ceased to be subsidiaries of the Company with effect from Closing. Subsequent to Closing, there shall be a final settlement of the Estimated Amount between JobStreet and SEEK Asia Investments Pte Ltd (“Parties”) being the Closing Date Financial Adjustment which shall be determined and agreed between the Parties later in accordance to the SSA and Amendment Letter. Barring any unforeseen circumstances, the Board expects the Amended Proposed Distribution to be completed by the end of 4th quarter 2014. Further announcement(s) on the Closing Date Financial Adjustment and Amended Proposed Distribution will be made in due course. This announcement is dated 20 November 2014. | |
Announcement Info
| Company Name | JOBSTREET CORPORATION BERHAD |
| Stock Name | JOBST |
| Date Announced | 20 Nov 2014 |
| Category | General Announcement |
| Reference No | OD-141120-60915 |
