OTHERS CITAGLOBAL BERHAD ("CITAGLOBAL" OR "THE COMPANY") - PROPOSED ACQUISITION OF - 60% EQUITY INTEREST IN SPECTRA SURIA SDN. BHD. ("SPECTRA SURIA"), A RPVSP (REGISTERED SOLAR PHOTOVOLTAIC SERVICE PROVIDER) COMPANY ("SPECTRA SURIA ACQUISITION") - 40% EQUITY INTEREST IN NOVA REECO SDN. BHD. ("NOVA REECO"), A RPVI (REGISTERED SOLAR PHOTOVOLTAIC INVESTOR) COMPANY ("NOVA REECO ACQUISITION") (COLLECTIVELY, THE "PROPOSED ACQUISITIONS")
| CITAGLOBAL BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | CITAGLOBAL BERHAD ("CITAGLOBAL" OR "THE COMPANY") - PROPOSED ACQUISITION OF
- 60% EQUITY INTEREST IN SPECTRA SURIA SDN. BHD. ("SPECTRA SURIA"), A RPVSP (REGISTERED SOLAR PHOTOVOLTAIC SERVICE PROVIDER) COMPANY ("SPECTRA SURIA ACQUISITION")
- 40% EQUITY INTEREST IN NOVA REECO SDN. BHD. ("NOVA REECO"), A RPVI (REGISTERED SOLAR PHOTOVOLTAIC INVESTOR) COMPANY ("NOVA REECO ACQUISITION")
(COLLECTIVELY, THE "PROPOSED ACQUISITIONS") |
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This is a voluntary announcement made by the Company. Reference is made to the Company’s announcement dated 4 August 2023 in relation to the Proposed Acquisitions (“Announcement”). Unless otherwise stated, all terms used herein shall have the same meaning as those defined in the Announcement. The Board of Directors of the Company (“Board”) wishes to announce that on 22 March 2024, Citaglobal Engineering Services Sdn Bhd (“CESSB”) and the Spectra Suria Vendors had entered into a supplementary agreement to the Spectra Suria SSA (“Supplementary SSA”) to amend the Spectra Suria SSA for CESSB to acquire 100% equity interest in Spectra Suria for a purchase consideration of RM1,000,000 in cash. The Spectra Suria Acquisition has been completed on even date in accordance with the terms of the Spectra Suria SSA (as amended and supplemented by the Supplementary SSA). The Board wishes to further announce that Citaglobal, the Nova Reeco Vendors and Nova Spectra Energy had, vide a Letter of Termination dated 22 March 2024, mutually agreed to terminate the Nova Reeco SSA in respect of the Nova Reeco Acquisition as the Nova Reeco Conditions Precedent have not been fulfilled within the Nova Reeco SSA Cut-Off Date. This announcement is dated 22 March 2024. |
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Announcement Info
| Company Name | CITAGLOBAL BERHAD |
| Stock Name | CITAGLB |
| Date Announced | 22 Mar 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-22032024-00057 |