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TRANSOCEAN HOLDINGS BHD (“TRANSOCEAN” OR “COMPANY”) PROPOSED SUBSCRIPTION OF 12,000,000 NEW ORDINARY SHARES OF RM1.00 EACH (“SHARES”) IN TRANSOCEAN BY KUMPULAN KENDERAAN MALAYSIA BERHAD (“KKMB”) AT AN ISSUE PRICE OF RM1.00 PER SHARE (“PROPOSED SUBSCRIPTION”); AND PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN USMETA MANUFACTURING SDN BHD (“USMETA”) COMPRISING 1,000,000 SHARES FROM NADICORP HOLDINGS SDN BHD (“NADICORP”) FOR A CASH CONSIDERATION OF RM8.0 MILLION (ITEMS (I) AND (II) TO BE COLLECTIVELY REFERRED TO AS “PROPOSALS”)

TRANSOCEAN HOLDINGS BHD

TypeAnnouncement
SubjectTRANSOCEAN HOLDINGS BHD (“TRANSOCEAN” OR “COMPANY”)

PROPOSED SUBSCRIPTION OF 12,000,000 NEW ORDINARY SHARES OF RM1.00 EACH (“SHARES”) IN TRANSOCEAN BY KUMPULAN KENDERAAN MALAYSIA BERHAD (“KKMB”) AT AN ISSUE PRICE OF RM1.00 PER SHARE (“PROPOSED SUBSCRIPTION”); AND

PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN USMETA MANUFACTURING SDN BHD (“USMETA”) COMPRISING 1,000,000 SHARES FROM NADICORP HOLDINGS SDN BHD (“NADICORP”) FOR A CASH CONSIDERATION OF RM8.0 MILLION

(ITEMS (I) AND (II) TO BE COLLECTIVELY REFERRED TO AS “PROPOSALS”)
ContentsWe refer to the Company’s announcement dated 19 July 2007 where it was announced that the following agreements were entered into for purposes of the Proposals :-

(a) a conditional subscription agreement between Transocean and KKMB, a wholly-owned subsidiary of Nadicorp for the proposed subscription of 12,000,000 new Shares in Transocean by KKMB at an issue price of RM1.00 per Share (“Subscription Agreement”); and

(b) a conditional share sale agreement between Transocean and Nadicorp for the proposed acquisition of 1,000,000 Shares in Usmeta by Transocean from Nadicorp for a cash consideration of RM8.0 million.

In this respect, on behalf of the Company, AmInvestment Bank Berhad (a member of AmInvestment Bank Group) is pleased to announce that the Proposed Subscription has been successfully completed today in accordance with the terms of the Subscription Agreement.

This announcement is dated 29 January 2008.


Announcement Info

Company NameTRANSOCEAN HOLDINGS BHD  
Stock Name TOCEAN    
Date Announced29 Jan 2008  
CategoryGeneral Announcement
Reference NoMM-080129-44137



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