BURSA ANNOUNCEMENTS
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS TALIWORKS CORPORATION BERHAD ("TCB" OR THE "COMPANY") PROPOSED JOINT VENTURE VIA A DISPOSAL OF 50% EQUITY INTEREST IN PINGGIRAN MUHIBBAH SDN. BHD. ("PMSB"), A WHOLLY-OWNED SUBSIDIARY OF TCB, TO PINGGIRAN VENTURES SDN. BHD. ("PVSB"), A WHOLLY-OWNED SUBSIDIARY OF THE EMPLOYEES PROVIDENT FUND BOARD ("EPF")
| TALIWORKS CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | TALIWORKS CORPORATION BERHAD ("TCB" OR THE "COMPANY")
PROPOSED JOINT VENTURE VIA A DISPOSAL OF 50% EQUITY INTEREST IN PINGGIRAN MUHIBBAH SDN. BHD. ("PMSB"), A WHOLLY-OWNED SUBSIDIARY OF TCB, TO PINGGIRAN VENTURES SDN. BHD. ("PVSB"), A WHOLLY-OWNED SUBSIDIARY OF THE EMPLOYEES PROVIDENT FUND BOARD ("EPF") |
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On behalf of the Board of Directors of TCB, CIMB Investment Bank Berhad and Hong Leong Investment Bank Berhad wish to announce that the Company had on 30 November 2015 entered into a joint venture arrangement via a share sale and purchase agreement with PVSB, a wholly-owned subsidiary of EPF, and EPF to dispose of its 50% equity interest in PMSB comprising 5,000 ordinary shares of RM1.00 each and 36,424,569 redeemable preference shares of par value of RM0.01 each and premium of RM0.99 each, to PVSB for a total cash consideration of RM66.75 million (“Proposed Joint Venture”). Kindly refer to the attached document for the details of the Proposed Joint Venture. This announcement is dated 30 November 2015. |
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Please refer attachment below.
Announcement Info
| Company Name | TALIWORKS CORPORATION BERHAD |
| Stock Name | TALIWRK |
| Date Announced | 30 Nov 2015 |
| Category | General Announcement for PLC |
| Reference Number | GA1-30112015-00022 |