TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS EXECUTION OF A SHARE PURCHASE AGREEMENT BETWEEN UMW DRILLING 4 (L) LTD AND S.D. STANDARD DRILLING PLC IN RESPECT OF THE ACQUISITION OF THE ENTIRE ISSUED AND PAID-UP CAPITAL IN OFFSHORE DRILLER B324 LTD
| UMW HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | EXECUTION OF A SHARE PURCHASE AGREEMENT BETWEEN UMW DRILLING 4 (L) LTD AND S.D. STANDARD DRILLING PLC IN RESPECT OF THE ACQUISITION OF THE ENTIRE ISSUED AND PAID-UP CAPITAL IN OFFSHORE DRILLER B324 LTD |
We refer to our announcement dated 26th June 2012 (“the said Announcement”) in respect of the above matter. Unless otherwise stated, defined terms used in this announcement shall carry the same meanings as defined in the said Announcement. We had earlier on announced that in consideration of the SPA and the payment of USD1.00, SD had agreed to grant to UMW D4, the option to purchase the entire issued and paid-up capital of a SPV company which holds the rights and interest under a VCA, for the construction of another jack-up rig at a consideration estimated at USD212.0 million. We wish to announce that UMW D4 has decided not to exercise the option. cc - Securities Commission (Corporate Finance & Investments)
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Announcement Info
| Company Name | UMW HOLDINGS BERHAD |
| Stock Name | UMW |
| Date Announced | 27 Sept 2012 |
| Category | General Announcement |
| Reference No | UH-120927-57931 |