TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionBOUSTEAD HOLDINGS BERHAD (“BHB” OR “COMPANY” OR “VENDOR”)

PROPOSED DISPOSAL OF 66.41% STAKE HELD BY BHB IN THE UNIVERSITY OF NOTTINGHAM IN MALAYSIA SDN BHD (“UNIM”) TO UON HOLDING (MALAYSIA) SDN. BHD. (“PURCHASER”), A WHOLLY-OWNED SUBSIDIARY OF THE UNIVERSITY OF NOTTINGHAM (“UON”), FOR A CASH CONSIDERATION IN RINGGIT MALAYSIA (“RM”) EQUIVALENT TO BRITISH POUND STERLING (“£”) 23,500,000 (APPROXIMATELY RM137,423,300 AS AT THE LPD (DEFINED BELOW)) (“PROPOSED DISPOSAL”)

Reference is made to BHB’s announcement on 17 August 2021, 15 November 2021 and 15 February 2022 in relation to the Proposed Disposal (“Announcement”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.

 

The Board of Directors of BHB wishes to announce that in light of the Conditions Precedent remaining unfulfilled in their respective terms at the end of business of 16 August 2022, being the Cut-Off Date, BHB and the Purchaser have mutually accepted and agreed that the SSA shall be deemed to have lapsed and be of no effect in accordance with Clause 2.6 of the SSA and the SSA is accordingly terminated.

 

This announcement is dated 16 August 2022.

 


Announcement Info

Company NameBOUSTEAD HOLDINGS BERHAD
Stock NameBSTEAD
Date Announced16 Aug 2022
CategoryGeneral Announcement for PLC
Reference NumberGA1-15082022-00012