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Bursa Announcement
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Date : 13 January 2015

MULTIPLE PROPOSALS MALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR “COMPANY”) (i) PROPOSED ACQUISITIONS; (ii) PROPOSED FREE WARRANTS; (iii) PROPOSED EXEMPTION; (iv) PROPOSED IASC; AND (v) PROPOSED AMENDMENTS. (TO BE COLLECTIVELY REFERRED TO AS “PROPOSALS”)

MALAYSIAN RESOURCES CORPORATION BERHAD

TypeAnnouncement
SubjectMULTIPLE PROPOSALS
DescriptionMALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR “COMPANY”)

(i) PROPOSED ACQUISITIONS;
(ii) PROPOSED FREE WARRANTS;
(iii) PROPOSED EXEMPTION;
(iv) PROPOSED IASC; AND
(v) PROPOSED AMENDMENTS.

(TO BE COLLECTIVELY REFERRED TO AS “PROPOSALS”)

We refer to the previous announcements made by RHB Investment Bank, on behalf of the Board in relation to the Proposals. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements. 

On behalf of the Board, RHB Investment Bank wishes to announce that MRCB had on 6 January 2015, received a notification from the GHC Vendors that:-

(i) the approval for the grant of projects on Lot 1 Section 26, Petaling Jaya (“Lot 1”) and Lot 2 Section 26, Petaling Jaya (“Lot 2”) had been issued to a subsidiary of NGD, namely Projekmaju Sdn Bhd; and

(ii) GHC has been appointed as the main contractor in respect of the construction and development of Lot 1 and Lot 2.

In view of the above and in accordance with Clause 5.2(a) of the GHC SSA (as amended by way of exchange of letters between MRCB and the GHC Vendors on 19 August 2013 and 22 August 2013), the Board has decided to proceed with the settlement of the balance purchase consideration amounting to RM60,923,964 for the Acquisition of GHC (“Balance GHC Consideration”). In this regard, the Company had on 13 January 2015, paid the cash consideration amounting to RM20,000,000 and allotted 26,402,558 MRCB Shares at an issue price of RM1.55 per MRCB Share together with 7,543,588 Warrants to Gapurna Sdn Bhd, being the party nominated by the GHC Vendors to receive the Balance GHC Consideration.

This announcement is dated 13 January 2015.



Announcement Info

Company NameMALAYSIAN RESOURCES CORPORATION BERHAD  
Stock Name MRCB    
Date Announced13 Jan 2015  
CategoryGeneral Announcement
Reference NoMI-150113-62717