TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MULPHA INTERNATIONAL BHD ("MULPHA") PROPOSED RATIFICATION FROM THE SHAREHOLDERS OF MULPHA OF THE ACCEPTANCE OF A PRIVATISATION SCHEME UNDERTAKEN BY HYDRA RL BIDCO PTY. LTD. ("BIDCO" OR THE "OFFEROR"), AN ENTITY CONTROLLED BY BROOKFIELD ASSET MANAGEMENT INC. ("BROOKFIELD") FOR ALL THE SECURITIES OF AVEO GROUP LIMITED AND AVEO GROUP TRUST (COLLECTIVELY, "AVEO"), A 24.39%-ASSOCIATE COMPANY OF MULPHA ("PROPOSED RATIFICATION")
| MULPHA INTERNATIONAL BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | MULPHA INTERNATIONAL BHD ("MULPHA")
PROPOSED RATIFICATION FROM THE SHAREHOLDERS OF MULPHA OF THE ACCEPTANCE OF A PRIVATISATION SCHEME UNDERTAKEN BY HYDRA RL BIDCO PTY. LTD. ("BIDCO" OR THE "OFFEROR"), AN ENTITY CONTROLLED BY BROOKFIELD ASSET MANAGEMENT INC. ("BROOKFIELD") FOR ALL THE SECURITIES OF AVEO GROUP LIMITED AND AVEO GROUP TRUST (COLLECTIVELY, "AVEO"), A 24.39%-ASSOCIATE COMPANY OF MULPHA
("PROPOSED RATIFICATION") |
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The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement dated 30 September 2019 in relation to the Schemes. We refer to the earlier announcement of Mulpha dated 30 September 2019 in relation to the Schemes involving the privatisation of Aveo. The Board wishes to inform that the Board had deliberated on the terms and considerations offered by the Offeror as set out in the Scheme Booklet. Based on the terms and considerations of the Schemes as well as the recommendation by the Independent Expert Report as enclosed in the Scheme Booklet, the Board is pleased to announce that it intends to vote in favour of the Schemes and the election will be an effective combination of Cash Consideration and Scrip Consideration. In view of the time constraints in obtaining prior approval from Mulpha shareholders of the voting decision in respect of the Schemes, the Board proposes for a ratification from Mulpha shareholders from having to obtain shareholders’ prior approval for the vote of the Schemes and such shareholders' ratification will be procured at a later stage, in the event the Schemes are successfully implemented ("Proposed Ratification"). An application of the Proposed Ratification has been submitted to Bursa Malaysia Securities Berhad ("Bursa Securities"), of which the approval was granted by Bursa Securities on 25 October 2019, subject to, inter alia, Mulpha procuring its shareholders' ratification within 3 months from the date of Scheme Meeting to be convened by Aveo. UOB Kay Hian Securities (M) Sdn Bhd has been appointed to act as the Adviser for the Proposed Ratification. Further details of the Schemes and the Proposed Ratification are set out in the enclosed announcement.
This announcement is dated 25 October 2019. |
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Please refer attachment below.
Announcement Info
| Company Name | MULPHA INTERNATIONAL BERHAD |
| Stock Name | MULPHA |
| Date Announced | 25 Oct 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25102019-00063 |
