Bursa Filings
Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | CAPITAL A BERHAD ("CAPITAL A" OR THE "COMPANY") (I) PROPOSED BUSINESS COMBINATION; (II) PROPOSED DISTRIBUTION; AND (III) PROPOSED PROVISION OF FINANCIAL ASSISTANCE (COLLECTIVELY, THE "BUSINESS COMBINATION PROPOSALS") |
Reference is made to the Company’s announcement dated 28 February 2024 (“Announcement”). Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as in the Announcement.
On behalf of the Board, RHB Investment Bank wishes to announce that the Company has issued a Notice of Termination dated 22 October 2024 to GMFI on 23 October 2024 to unilaterally terminate the BCA dated 28 February 2024 entered into between the Parties for the Proposed Business Combination due to the following reasons:
Under the terms of the BCA, the Company has the right to terminate the BCA if GMFI receives a Delisting Determination. That GMFI has yet to be delisted from NASDAQ does not preclude the Company’s rights to invoke the said termination rights.
After much due consideration by the Board, the Board has decided to invoke its right to terminate the BCA after considering, amongst other things, the risk and impact of GMFI being formally delisted pursuant to the Delisting Determination. Upon termination of the BCA, the BCA shall become void and all rights and obligations of the parties will cease thereunder. As the Proposed Business Combination is inter-conditional with the Proposed Distribution and Proposed Provision of Financial Assistance, the Proposed Distribution and Proposed Provision of Financial Assistance are therefore concurrently aborted.
Save for the professional fees incurred, at this time the termination of the BCA is not expected to have any material effect on the earnings, EPS, NA and NA per share of the Group for the financial year ending 31 December 2024.
This announcement is dated 23 October 2024. |
Announcement Info
Company Name | CAPITAL A BERHAD |
Stock Name | CAPITALA |
Date Announced | 23 Oct 2024 |
Category | General Announcement for PLC |
Reference Number | GA1-23102024-00028 |