MRCB - Home

Bursa Announcement
Get the latest information from Bursa Malaysia here.
Date : 19 June 2013

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 in relation to the Proposals.

On behalf of the Board, RHB Investment Bank wishes to announce that the Company has been notified by NGD of the following:-

(a)    By a letter issued by PKNS’ solicitors to NGD’s solicitors, PKNS has alleged, inter alia, that by NGD entering into the NGD SSA with MRCB, NGD has triggered PKNS’ pre-emption rights with respect to NGD’s shares held in P.J Sentral under the shareholders’ agreement made between NGD, PKNS and P.J Sentral in respect of P.J Sentral (“Shareholders’ Agreement”).

(b)    In reply to PKNS’ solicitors’ letter, NGD’s solicitors have stated, inter alia, that NGD disagrees with PKNS’ interpretation of its pre-emption right under the Shareholders’ Agreement, premised on the clear terms of the Shareholders’ Agreement, and the Drag Along Notice is valid and enforceable.

(c)    PKNS’ solicitors have subsequently issued a letter to NGD’s solicitors wherein PKNS has communicated an offer to purchase NGD’s 70% equity interest in P.J Sentral. NGD through its solicitors have rejected the offer by PKNS as PKNS does not have any enforceable pre-emption rights and NGD remains committed to the NGD SSA with MRCB.

This announcement is dated 19 June 2013.
 



Announcement Info

Company NameMALAYSIAN RESOURCES CORPORATION BERHAD  
Stock Name MRCB    
Date Announced19 Jun 2013  
CategoryGeneral Announcement
Reference NoMI-130619-64141