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Telekom Malaysia Bhd announces proposed acquisition by telekom Malaysia Berhad of the entire equity interest in GTC Global Sdn. Bhd from Gapurna Global Solutions Sdn. Bhd.

Tuesday, 26 Nov 2013 07:00pm EST 

Telekom Malaysia Bhd:Says on Nov.27 it entered into a conditional Share Sale Agreement with Gapurna Global Solutions Sdn. Bhd (GGS).Says that this is to acquire the entire equity interest held by GGS in GTC Global Sdn. Bhd (GTC) for a total consideration of malaysian ringgit 45,000,000.00 to be satisfied by way of cash.Says on the date of execution of the SSA, TM shall deposit with TM’s Solicitors the sum of malaysian ringgit 2,250,000.00 being 5 per cent of the Purchase Consideration of which such amount is to be held by TM’s Solicitors as stakeholders.Says the Deposit shall be released to GGS as payment of the Purchase Consideration together with interest and any other benefit accrued to the Deposit on the Completion Date.Says the sum of malaysian ringgit 42,750,000.00 being the balance of the Purchase Consideration shall be paid by TM to GGS on the Completion Date.Says the Proposed Acquisition will be financed via internally generated funds. 

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