Date : 29 January 2014

OTHERS PROPOSED DISPOSAL OF 30% EQUITY INTEREST IN NUZEN CORPORATION SDN BHD (“NUZEN”), RM58.5 MILLION SERIES A REDEEMABLE PREFERENCE SHARES AND RM54.0 MILLION NOMINAL VALUE REDEEMABLE SECURED JUNIOR BONDS IN KONSORTIUM LEBUHRAYA UTARA-TIMUR (KL) SDN BHD (“KESTURI”) TO EKOVEST BERHAD (“EKOVEST”) AND ITS SUBSIDIARIES

MALAYSIAN RESOURCES CORPORATION BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionPROPOSED DISPOSAL OF 30% EQUITY INTEREST IN NUZEN CORPORATION SDN BHD (“NUZEN”), RM58.5 MILLION SERIES A REDEEMABLE PREFERENCE SHARES AND RM54.0 MILLION NOMINAL VALUE REDEEMABLE SECURED JUNIOR BONDS IN KONSORTIUM LEBUHRAYA UTARA-TIMUR (KL) SDN BHD (“KESTURI”) TO EKOVEST BERHAD (“EKOVEST”) AND ITS SUBSIDIARIES

Malaysian Resources Corporation Berhad wishes to announce that the Company has today entered into a Sale Agreement (“SA”) with Ekovest and its subsidiaries for the disposal of the following:-

(a)           1,500,000 ordinary shares of RM1.00 each in Nuzen (“Nuzen Shares”) and 13,500,000 redeemable preference shares of RM1.00 each in Nuzen (“Nuzen RPS”) representing 30% equity interest in Nuzen to Wira Kristal Sdn Bhd (“Wira Kristal”), a wholly-owned subsidiary of Ekovest;

 

(b)           585 Series A redeemable preference shares of RM1.00 each in Kesturi (“Kesturi RPS A”) to Ekovest Construction Sdn Bhd (“ECSB”), a wholly-owned subsidiary of Ekovest; and

 

(c)           RM54.0 million nominal value redeemable secured junior bonds in Kesturi (“Kesturi Junior Bonds”) to Ekovest;

 

for a total cash consideration of RM228.0 million (“Proposed Disposal”).

 

The detailed announcement is attached herewith.



Announcement Info

Company NameMALAYSIAN RESOURCES CORPORATION BERHAD  
Stock Name MRCB    
Date Announced29 Jan 2014  
CategoryGeneral Announcement
Reference NoMR-140129-45807