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MULTIPLE PROPOSALS TRANSOCEAN HOLDINGS BHD ("THB" OR THE "COMPANY") (I) PROPOSED ACQUISITION; AND (II) PROPOSED DIVERSIFICATION (COLLECTIVELY, THE "PROPOSALS")

TRANSOCEAN HOLDINGS BHD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
TRANSOCEAN HOLDINGS BHD ("THB" OR THE "COMPANY")

(I) PROPOSED ACQUISITION; AND
(II) PROPOSED DIVERSIFICATION

(COLLECTIVELY, THE "PROPOSALS")

(Unless otherwise stated or redefined, all abbreviations and definitions used herein shall have the same meanings as those used in the Company’s announcements dated 16 April 2021, 15 June 2021, 22 June 2021 and 23 June 2021 in relation to the Proposals (“Announcements”))

 

On behalf of the Board, M&A Securities wishes to announce that THB and ECSB had on 29 June 2021 entered into a supplemental letter in relation to the variation of terms of SSA.

 

The variation of terms of SSA is set out below:

  1. extension of the duration of the Conditional Period for a further period of one (1) and a half month, to expire on 31 August 2021 (or such other longer period as we may mutually agree);
  2. to delete "3. The approval of the Proposed Diversification and completion and successful listing of the placement shares to be issued under the Proposed Placement of Shares." under Schedule 1:Conditions Precedent of the SSA in totality, and replace with "3. The approval of the Proposed Diversification."; and
  3. extension of time for the execution of the shareholders' agreement to a date on or prior to the expiry of the Conditional Period.

Save for the above, all other terms of the SSA shall remain the same.

 

 

This announcement is dated 29 June 2021.






Announcement Info

Company Name TRANSOCEAN HOLDINGS BHD
Stock Name TOCEAN
Date Announced 29 Jun 2021
Category General Announcement for PLC
Reference Number GA1-29062021-00032




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