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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS TH HEAVY ENGINEERING BERHAD ("THHE" OR "THE COMPANY") - PROPOSED ACQUISITION BY THHE FABRICATORS SDN. BHD. ("TFSB"), A WHOLLY-OWNED SUBSIDIARY OF THHE, OF DESTINI SHIPBUILDING AND ENGINEERING SDN. BHD.'S ENTIRE SHAREHOLDING IN THHE DESTINI SDN. BHD. ("TDSB") AMOUNTING TO 382,500 ORDINARY SHARES, REPRESENTING 51% EQUITY INTEREST IN TDSB FOR A CASH CONSIDERATION OF RM121,131.12 ("PROPOSED ACQUISITION")

TH HEAVY ENGINEERING BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
TH HEAVY ENGINEERING BERHAD ("THHE" OR "THE COMPANY")
- PROPOSED ACQUISITION BY THHE FABRICATORS SDN. BHD. ("TFSB"), A WHOLLY-OWNED SUBSIDIARY OF THHE, OF DESTINI SHIPBUILDING AND ENGINEERING SDN. BHD.'S ENTIRE SHAREHOLDING IN THHE DESTINI SDN. BHD. ("TDSB") AMOUNTING TO 382,500 ORDINARY SHARES, REPRESENTING 51% EQUITY INTEREST IN TDSB FOR A CASH CONSIDERATION OF RM121,131.12 ("PROPOSED ACQUISITION")
Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in THHE’s announcement dated 21 April 2021, 21 July 2021 and 21 October in relation to the Proposed Acquisition.

Reference is made to the announcements dated 21 April 2021, 21 July 2021 and 21 October 2021 in relation to the Share Sale Agreement (“SSA”).

The Board of Directors of THHE wishes to announce that the Conditional Period under the SSA, i.e. the period within which the conditions precedent are to be fulfilled or obtained, has been mutually extended for a further period of one (1) month commencing immediately after the date of expiry of the Extended Conditional Period on 20 November 2021.

Save for the above, all other terms, conditions and provisions contained in the SSA shall remain unchanged and continue to be in full force and effect.

At the current juncture, the parties are in the midst of finalising one final condition precedent as required by the SSA. Save and except for the abovementioned, there is no other material development on the status of the SSA as of the date of this announcement.

This announcement is dated 22 November 2021.





Announcement Info

Company Name TH HEAVY ENGINEERING BERHAD
Stock Name THHEAVY
Date Announced 22 Nov 2021
Category General Announcement for PLC
Reference Number GA1-22112021-00054




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