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BURSA ANNOUNCEMENTS

Date : 15 December 2020

OTHERS TALIWORKS CORPORATION BERHAD ("TCB" OR "COMPANY") - PROPOSED ACQUISITION OF THE REMAINING EQUITY INTEREST IN FORTUNE 11 SDN BHD ("F11"), CORPORATE SEASON SDN BHD ("CS") AND SILVERSTAR PAVILION SDN BHD ("SP") BY TALIWORKS RENEWABLES SDN BHD ("TRSB"), A WHOLLY-OWNED SUBSIDIARY OF TCB, FROM SEV RENEWABLES SDN BHD ("SEV RENEWABLES"), A WHOLLY-OWNED SUBSIDIARY OF SUN ENERGY VENTURES SDN BHD ("SEV") ("PROPOSED ACQUISITION II")

TALIWORKS CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
TALIWORKS CORPORATION BERHAD ("TCB" OR "COMPANY") - PROPOSED ACQUISITION OF THE REMAINING EQUITY INTEREST IN FORTUNE 11 SDN BHD ("F11"), CORPORATE SEASON SDN BHD ("CS") AND SILVERSTAR PAVILION SDN BHD ("SP") BY TALIWORKS RENEWABLES SDN BHD ("TRSB"), A WHOLLY-OWNED SUBSIDIARY OF TCB, FROM SEV RENEWABLES SDN BHD ("SEV RENEWABLES"), A WHOLLY-OWNED SUBSIDIARY OF SUN ENERGY VENTURES SDN BHD ("SEV") ("PROPOSED ACQUISITION II")

(Capitalised terms used in this announcement shall have the same meanings as those used in the Company’s announcement dated 30 November 2020, unless otherwise stated.)

 

The Company refers to its announcement dated 30 November 2020 where it was announced that:

 

(i) TRSB had on 30 November 2020 entered into the SPA with EMH1, EMH2, EMH3, TGPH (as the Sellers) and TerraForm Global (as the Sellers’ warrantor) in respect of the Proposed Acquisition which entails the indirect proposed acquisition of the equity interests of the Sellers in three (3) Malaysian-incorporated FIAHs, being F11, CS and SP, being the subsidiaries of SE1, SE2 and SE3 respectively (“SESH SPA”); and

(ii) the Sellers, SEV Renewables, SEV, Capital Advisors Partners Asia Pte Ltd and CapAsia Solar One Ltd (“CapAsia”) had on 27 November 2020 entered into the Drag-Along Agreement to facilitate the Proposed Acquisition II. 

 

In connection with the above, the Company wishes to announce that TRSB has on 15 December 2020 entered into a conditional share sale and purchase agreement with SEV Renewables (“SEV SPA”) in respect of the Proposed Acquisition II.

 

Details of the Proposed Acquisition II are set out in the ensuing sections. The salient terms of the SEV SPA, which are substantially the same as the terms of the SESH SPA are set out in Appendix I of this Announcement.

 

This announcement is dated 15 December 2020.




Please refer attachment below.



Announcement Info

Company Name TALIWORKS CORPORATION BERHAD
Stock Name TALIWRK
Date Announced 15 Dec 2020
Category General Announcement for PLC
Reference Number GA1-14122020-00011



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