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Octagon Consolidated Bhd Announces Agreement With OGPC Holdings Sdn Bhd And Shareholders Of OGPC Sdn Bhd And OGPC O & G Sdn Bhd

Tuesday, 14 May 2013 06:02am EDT 

Octagon Consolidated Bhd announced that Octagon, OGPC Holdings, Azman Bin Karim (Azman), Abdul Manaf Bin Shariff (Abdul Manaf), Khoo Kok Seng (Khoo) (being the shareholders of both OGPC and OGPC O & G) have on May 14, 2013 entered into an Agreement to facilitate the proposed corporate restructuring of Octagon. Octagon, Azman, Abdul Manaf, Khoo and OGPC Holdings are hereinafter referred to as the Parties. Azman, Abdul Manaf and Khoo are hereinafter collective referred to as OGPC Shareholders. The salient terms of the Agreement are as follows: The Parties agreed that, for the duration of 60 days from the date of the Agreement (Expiry Date), to negotiate exclusively with each other to finalise the terms and conditions of the following: OGPC Holdings, a new company incorporated recently for the purpose of the restructuring exercise, shall take over the listing status of Octagon and acquire Octagon for full consideration payable in new ordinary shares of OGPC Holdings (OGPC Holdings Shares); The sale of all shares held by the OGPC Shareholders in OGPC and OGPC O & G to OGPC Holdings wherein OGPC Holdings shall acquire all the issued and paid up shares held by the OGPC Shareholders in OGPC and OGPC O & G for full consideration payable in OGPC Holdings Shares. OGPC is a company incorporated on 14 May 1994 under the Companies Act, 1965 and OGPC O & G is a company incorporated on February 06, 2008. 

Company Quote

26 Nov 2013