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DISPOSAL OF 7,742,000 FULLY PAID UP ORDINARY SHARES OF RM1.00 EACH REPRESENTING APPROXIMATELY 35.16% EQUITY INTEREST IN PERAK HANJOONG SIMEN SDN BHD ("PROPOSED DISPOSAL")

GOPENG BERHAD

TypeAnnouncement
SubjectDISPOSAL OF 7,742,000 FULLY PAID UP ORDINARY SHARES OF RM1.00 EACH REPRESENTING APPROXIMATELY 35.16% EQUITY INTEREST IN PERAK HANJOONG SIMEN SDN BHD ("PROPOSED DISPOSAL")
ContentsGOPENG BERHAD (“GOPENG BERHAD OR THE “COMPANY”)

DISPOSAL OF 117,742,000 FULLY PAID-UP ORDINARY SHARES OF RM1.00 EACH REPRESENTING APPROXIMATELY 35.16% EQUITY INTEREST IN PERAK-HANJOONG SIMEN SDN BHD (“PROPOSED DISPOSAL”)

The Board of Directors of Gopeng Berhad is pleased to announce that the Company had on [23 September 2010] accepted an offer from YTL Cement Berhad to purchase the Company’s total shareholding of 117,742,000 fully issued and paid-up ordinary shares of RM1.00 each representing approximately 35.16% in Perak Hanjoong Simen Sdn Bhd (“Perak-Hanjoong”) (“Sale Shares”) for RM200,000,000 in cash.

The Proposed Disposal is subject to the Company delivering an irrevocable and unconditional undertaking from the two largest shareholders of the Company being Dato’ Mohd Salleh bin Hashim (holding a total of approximately 32.34% direct and indirect equity interests in the Company) and Fortuna Gembira Enterpris Sdn Bhd (holding a total of approximately 19.33% equity interest in the Company) respectively confirming that they will vote in favour of the shareholders’ resolution for the disposal of the Sale Shares at an extraordinary general meeting of the Company to be convened.

The Proposed Disposal is subject to the approval of the shareholders of the Company and any other relevant regulatory authorities / parties, as the case may be.

The Directors, namely Dato’ Mohd Salleh bin Hashim and Dato’ Mohamad Tahiruddin bin Mohd Tahir represent the Company’s interest on the Board of Perak-Hanjoong and apart from this, none of the other Directors and substantial shareholders of the Company or persons connected to them has any interest, direct or indirect, in the Proposed Disposal.

The Proposed Disposal is subject to a definitive sale and purchase agreement to be entered into in due course and the Company will be appointing advisers for the implementation of the Proposed Disposal. Further announcements on material developments in relation to the Proposed Disposal will be made by the Company at the relevant time.

This announcement is dated [24 September 2010]


Announcement Info

Company NameGOPENG BERHAD  
Stock Name GOPENG    
Date Announced24 Sept 2010  
CategoryGeneral Announcement
Reference NoGG-100924-58672



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