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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS GENTING MALAYSIA BERHAD ("GENM") EQUITY INJECTION VIA SUBSCRIPTION OF UP TO USD150 MILLION OF SERIES L PREFERRED STOCK OF EMPIRE RESORTS, INC. ("EMPIRE")

GENTING MALAYSIA BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
GENTING MALAYSIA BERHAD ("GENM")

EQUITY INJECTION VIA SUBSCRIPTION OF UP TO USD150 MILLION OF SERIES L PREFERRED STOCK OF EMPIRE RESORTS, INC. ("EMPIRE")

Unless otherwise stated, the exchange rate of USD1.00: RM4.1685, being Bank Negara Malaysia’s middle rate as at 5.00 p.m. on 11 October 2021, is used throughout this announcement for purpose of translation of USD into RM.

 

The Board of Directors of GENM (“Board”) refers to GENM’s announcements dated 6 August 2019, 15 August 2019, 20 August 2019, 5 November 2019, 14 November 2019 and 18 November 2019 (collectively, “Announcements”) in respect of the Proposed Transactions. On 19 March 2020, GENM had also announced the issuance of up to USD40 million of Series G Preferred Stock of Empire (“Series G”) and on 11 September 2020 and 19 March 2021 respectively, GENM announced the issuance of up to USD150 million and USD20 million of Series L Preferred Stock of Empire (“Series L”) respectively (collectively, “Equity Injection Announcements”). The definitions used throughout this announcement, unless stated otherwise, shall have the same meaning(s) as those used in the Announcements and Equity Injection Announcements.

 

The Board wishes to announce that GENM’s indirect wholly-owned subsidiary, Genting ER II LLC (“GER II”), a Delaware company, had on 11 October 2021 (United States Eastern date/time) entered into a Subscription Agreement to subscribe for up to USD150 million (or approximately RM625.3 million) of additional Series L. The proceeds from the Series L will be utilised by Empire to facilitate its long-term financing plan (“Proposed Equity Injection”).

 

For further details, please refer to the attachment.

 

This announcement is dated 12 October 2021.




Please refer attachment below.



Announcement Info

Company Name GENTING MALAYSIA BERHAD
Stock Name GENM
Date Announced 12 Oct 2021
Category General Announcement for PLC
Reference Number GA1-12102021-00096




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