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United Fiber System Ltd updates on proposed S$1.88 bln acquisition of 66.9998 pct OF Pt Golden Energy Mines Tbk and issuance of up to S$45,499,173 in aggregate principal amount of 5% bonds due 2015


Friday, 31 Jan 2014 03:11am EST 

United Fiber System Ltd:Refers to the announcement made on July 16,2013 in relation to the Proposed DSS Acquisition (SPA Announcement) and the announcement released by the company on Aug. 30, 2013 , in relation to the Bonds Issue (MCB Announcement).Says UFS and DSS had originally agreed in the Share Purchase Agreement that the long-stop date for the Proposed DSS Acquisition shall be no later than Jan. 31, or as otherwise agreed between UFS and DSS in writing (Acquisition Long-Stop Date).Says as at the date of this announcement, not all the conditions precedent in the share purchase agreement has been satisfied or waived and the Acquisition Long-Stop Date will lapse on Jan. 31.Says UFS and DSS are currently consulting in good faith in accordance with the share purchase agreement with a view to determining whether the acquisition long-stop date should be extended to allow parties more time to satisfy the conditions precedent in the Share Purchase Agreement.Says UFS and the Subscribers had originally agreed in the subscription agreement that the closing of the Bonds Issue shall take place no later than Jan. 31 (Cut-Off Date).Says UFS and the Subscribers are also currently in negotiations to make relevant amendments to the Cut-Off Date in the subscription agreement, to correspond with the extension of the acquisition long-stop date. 

Company Quote

0.014
-0.0010 -6.67%
22 Jul 2014