Bursa Announcements
OTHERS SUNWAY BERHAD ("SUNWAY") 1) SUBSCRIPTION AND SHAREHOLDERS AGREEMENT BETWEEN SUNWAY HOLDINGS SDN BHD, MR ALAN OW WUI KIAT, MR ERMAN AKINCI AND MONUMENTAL PRODUCTIONS SDN BHD 2) CALL OPTION AGREEMENT BETWEEN SUNWAY HOLDINGS SDN BHD, MR ALAN OW WUI KIAT AND MR ERMAN AKINCI
SUNWAY BERHAD |
Type | Announcement | ||||||||||||
Subject | OTHERS |
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Description | SUNWAY BERHAD ("SUNWAY") 1) SUBSCRIPTION AND SHAREHOLDERS AGREEMENT BETWEEN SUNWAY HOLDINGS SDN BHD, MR ALAN OW WUI KIAT, MR ERMAN AKINCI AND MONUMENTAL PRODUCTIONS SDN BHD 2) CALL OPTION AGREEMENT BETWEEN SUNWAY HOLDINGS SDN BHD, MR ALAN OW WUI KIAT AND MR ERMAN AKINCI |
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The Board of Directors of Sunway wishes to announce that Sunway Holdings Sdn Bhd (“SHSB”), a wholly-owned subsidiary of Sunway, has on 7 November 2016, entered into a Subscription and Shareholders Agreement (“SSA") with Mr Alan Ow Wui Kiat (“Alan”), Mr Erman Akinci (“Erman”) and Monumental Productions Sdn Bhd (“JVCo”) with the intention of establishing a joint venture via the JVCo to collaborate as partners for the purpose of investing in the Business (as defined below) through the JVCo as well as to regulate their respective rights and responsibilities towards the management of the Business and affairs of the JVCo (“Proposed Joint Venture”).
SHSB has on even date, entered into a Call Option Agreement with Alan and Erman for the purpose of granting to Alan and Erman, the right to purchase the following option shares at an exercise price of RM10 each within the option period of three (3) years commencing from the date when the ordinary shares to be subscribed by SHSB, Alan and Erman pursuant to the SSA have been allotted to them (“Option Period”):
Please refer to the attachment below for further details of the Proposed Joint Venture.
This announcement is dated 7 November 2016.
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Please refer attachment below.
Announcement Info
Company Name | SUNWAY BERHAD |
Stock Name | SUNWAY |
Date Announced | 07 Nov 2016 |
Category | General Announcement for PLC |
Reference Number | GA1-03112016-00010 |