KUCHAI

1.860

+0.03 (+1.6%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS (I) PROPOSED DISPOSAL OF SUBSTANTIALLY ALL THE ASSETS AND LIABILITIES IN KUCHAI DEVELOPMENT BERHAD ("KDB") TO SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD ("SG BAGAN") TO BE SATISFIED ENTIRELY VIA THE ISSUANCE OF NEW ORDINARY SHARES IN SG BAGAN ("SG BAGAN SHARES") ("PROPOSED DISPOSAL"); AND (II) PROPOSED DISTRIBUTION OF SG BAGAN SHARES HELD BY KDB ARISING FROM THE PROPOSED DISPOSAL TO ITS ENTITLED SHAREHOLDERS BY WAY OF A PROPOSED CAPITAL REDUCTION AND REPAYMENT AND PROPOSED DIVIDEND-IN-SPECIE

KUCHAI DEVELOPMENT BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description 
(I) PROPOSED DISPOSAL OF SUBSTANTIALLY ALL THE ASSETS AND LIABILITIES IN KUCHAI DEVELOPMENT BERHAD ("KDB") TO SUNGEI BAGAN RUBBER COMPANY (MALAYA) BERHAD ("SG BAGAN") TO BE SATISFIED ENTIRELY VIA THE ISSUANCE OF NEW ORDINARY SHARES IN SG BAGAN ("SG BAGAN SHARES") ("PROPOSED DISPOSAL"); AND
(II) PROPOSED DISTRIBUTION OF SG BAGAN SHARES HELD BY KDB ARISING FROM THE PROPOSED DISPOSAL TO ITS ENTITLED SHAREHOLDERS BY WAY OF A PROPOSED CAPITAL REDUCTION AND REPAYMENT AND PROPOSED DIVIDEND-IN-SPECIE

We refer to the Company's announcements dated 29 December 2023 and 28 February 2024 in relation to the Proposals. Unless otherwise stated, the definitions 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 the Company had on 18 March 2024, entered into a supplemental letter ("Supplemental Letter") with Sg Bagan to amend and vary certain terms of the SPA to reflect KRCB's intention to submit an application to the SC for an exemption under subparagraph 4.08(1)(a) of the Rules, instead of subparagraph 4.13(1) of the Rules ("Proposed Exemption to KRCB").


Further details of the Supplemental Letter are set out in the attachment below.


This announcement is dated 18 March 2024.


Please refer attachment below.

Attachments

Kuchai Development Berhad_Announcement_18.03.2024.pdf
117.6 kB


Announcement Info

Company Name KUCHAI DEVELOPMENT BERHAD
Stock Name KUCHAI
Date Announced 18 Mar 2024
Category General Announcement for PLC
Reference Number GA1-18032024-00015


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