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Perisai Petroleum Teknologi Bhd Proposes Acquisition Of Emas Victoria (L) Bhd, Victoria Production Services Sdn Bhd; Disposal Of SJR Marine (L) Limited


Thursday, 28 Mar 2013 05:22am EDT 

Perisai Petroleum Teknologi Bhd announced that it has proposed acquisition of the following companies 51% equity interest in Emas Victoria (L) Bhd for a purchase consideration of USD89,250,000; 51% equity interest in Victoria Production Services Sdn Bhd for a purchase consideration of RMB51. The Company has entered into a second supplemental agreement to the SSA to vary certain terms and conditions of the SSA (Second Supplemental Agreement) in relation to the Proposals. Pursuant to the Second Supplemental Agreement, EOC and Perisai had mutually agreed that Perisai shall dispose of 1,960,000 SJR Marine Shares comprising 49% equity interest in SJR Marine at the same disposal consideration of USD37,000,000. In relation to the Completion Accounts and adjustment for the disposal consideration for SJR Marine Shares pursuant to the Revised Proposed Disposal, if 49% of the Completion NAV is higher than the disposal consideration of SJR Marine of USD37,000,000, EOC shall pay Perisai the difference between 49% of the Completion NAV and the disposal consideration of SJR Marine of USD37,000,000 by cash within 30 Market Days from the date of delivery of the Completion Accounts by Perisai to EOC, if 49% of the Completion NAV is lower than the disposal consideration of SJR Marine of USD37,000,000, Perisai shall pay EOC the difference between 49% of the Completion NAV and the disposal consideration of SJR Marine of USD37,000,000 by cash. 

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0.49
-0.0050 -1.01%
26 Dec 2014