The sale of KFC extend to November.
|KFC HOLDINGS (MALAYSIA) BERHAD|
|14/09/2012 06:23:22 PM|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)|
RELATED PARTY TRANSACTIONS
|Description||KFC HOLDINGS (MALAYSIA) BHD (“KFC” OR THE “COMPANY”)|
(I) PROPOSED DISPOSAL OF THE ENTIRE BUSINESS AND UNDERTAKING, INCLUDING ALL THE ASSETS AND LIABILITIES OF KFC TO TRIPLE PLATFORM SDN BHD (“TPSB”), A WHOLLY-OWNED SUBSIDIARY OF MASSIVE EQUITY SDN BHD (“MESB”) (“PROPOSED KFC DISPOSAL”);
(II) PROPOSED CAPITAL REPAYMENT BY WAY OF A CAPITAL REDUCTION EXERCISE PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 (“ACT”) (“PROPOSED KFC CAPITAL REPAYMENT”); AND
(III) PROPOSED PAYMENT TO THE WARRANTHOLDERS OF KFC (“WARRANTHOLDERS”) OF THEIR ENTITLEMENT TO THE DISPOSAL CONSIDERATION UNDER THE PROPOSED KFC DISPOSAL BY WAY OF A SPECIAL RESOLUTION (“PROPOSED KFC WARRANT SCHEME”)
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
The terms used herein, unless the context otherwise states, shall bear the same meaning as those defined in the announcement dated 18 May 2012 in relation to the Proposals.
We refer to the announcement made by the Company on 18 May 2012 in relation to the Proposals.
On behalf of the Board of Directors of KFC (save for the Interested Directors), OSK Investment Bank Berhad wishes to announce that KFC and TPSB had, on 14 September 2012, mutually agreed on the following:-
(a) to extend the stop date of the BSA from 17 September 2012 to 19 November 2012. The stop date is the last date for all conditions precedent under the BSA to be fulfilled or waived in accordance with the BSA; and
Save for the above, all the other conditions, covenants, provisions and terms contained in the BSA shall remain valid and enforceable.
This announcement is dated 14 September 2012.