360, Urban Resort Hotel, Hock Lee Centre, Level 4, Hotel Tower A, Jalan Datuk Abang Abdul Rahim, 93450 Kuching, Sarawak, Malaysia
Description
SARAWAK CABLE BERHAD (“SCB” OR “COMPANY”) (I) PROPOSED ACQUISITION BY SCB OF THE REMAINING 25% EQUITY INTEREST IN SARWAJA TIMUR SDN BHD (“STSB”) NOT ALREADY OWNED BY SCB FROM AUSTIN CORP (MALAYSIA) SDN BHD (“AUSTIN”) FOR A PURCHASE CONSIDERATION OF RM11.31 MILLION TO BE SATISFIED WHOLLY IN CASH (“PROPOSED STSB ACQUISITION”); (II) PROPOSED ACQUISITION BY SCB OF THE ENTIRE EQUITY INTEREST IN TRENERGY INFRASTRUCTURE SDN BHD (“TISB”) FROM DATO SRI MAHMUD ABU BEKIR TAIB (“DATO SRI MAHMUD”), CLARION POWER SDN BHD (“CLARION”) AND AUSTIN (COLLECTIVELY REFERRED TO AS THE “TISB VENDORS”) FOR A PURCHASE CONSIDERATION OF RM65.00 MILLION TO BE SATISFIED WHOLLY IN CASH (“PROPOSED TISB ACQUISITION”); AND (III) PROPOSED PLACEMENT OF UP TO 20,250,000 NEW ORDINARY SHARES OF RM0.50 EACH IN SCB (“SCB SHARES” OR “SHARES”), REPRESENTING UP TO 15% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF SCB (“PROPOSED PLACEMENT”), (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) SCABLE Notice of EGM.pdf SCABLE Notice of EGM.pdf
Outcome
SARAWAK CABLE BERHAD (“SCB” OR “COMPANY”)
(I) PROPOSED ACQUISITION BY SCB OF THE REMAINING 25% EQUITY INTEREST IN SARWAJA TIMUR SDN BHD (“STSB”) NOT ALREADY OWNED BY SCB FROM AUSTIN CORP (MALAYSIA) SDN BHD (“AUSTIN”) FOR A PURCHASE CONSIDERATION OF RM11.31 MILLION TO BE SATISFIED WHOLLY IN CASH (“PROPOSED STSB ACQUISITION”);
(II) PROPOSED ACQUISITION BY SCB OF THE ENTIRE EQUITY INTEREST IN TRENERGY INFRASTRUCTURE SDN BHD (“TISB”) FROM DATO SRI MAHMUD ABU BEKIR TAIB (“DATO SRI MAHMUD”), CLARION POWER SDN BHD (“CLARION”) AND AUSTIN (COLLECTIVELY REFERRED TO AS THE “TISB VENDORS”) FOR A PURCHASE CONSIDERATION OF RM65.00 MILLION TO BE SATISFIED WHOLLY IN CASH (“PROPOSED TISB ACQUISITION”); AND
(III) PROPOSED PLACEMENT OF UP TO 20,250,000 NEW ORDINARY SHARES OF RM0.50 EACH IN SCB (“SCB SHARES” OR “SHARES”), REPRESENTING UP TO 15% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF SCB (“PROPOSED PLACEMENT”).
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
We refer to the announcement dated 15 October 2012 regarding the convening of the Extraordinary General Meeting (“EGM”) in relation to the Proposals.
The Board of Directors of SCB wishes to announce that the resolutions set out in the Notice of EGM dated 16 October 2012 in relation to the Proposals have been duly passed by the shareholders of SCB at the EGM held today.
This announcement is dated 6 November 2012.
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