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 |
Type | Announcement |
Subject | OTHERS |
Description | 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 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 Name | MALAYSIAN RESOURCES CORPORATION BERHAD |
Stock Name | MRCB |
Date Announced | 29 Jan 2014 |
Category | General Announcement |
Reference No | MR-140129-45807 |