CORPORATE ANNOUNCEMENTS
General Announcement for PLC
Reference No: GA1-25022016-00004
 
Company Name : ECM LIBRA FINANCIAL GROUP BERHAD
Stock Name : ECM
Date Announced : 25/02/2016
Type : Announcement
Subject : OTHERS
Description : NOTIFICATION OF POTENTIAL MANDATORY GENERAL OFFER - ADDITIONAL INFORMATION
Announcement Details/Table Section :

We refer to the announcement dated 24 February 2016 relating to the Notification of Potential Mandatory General Offer. ECM Libra Financial Group Berhad ("ECM Libra") wish to announce further information received as follows:

  1. The purchase consideration is RM0.37 per share for the 74,194,973 ordinary shares in ECM Libra to be purchased by Truesource Sdn Bhd, a 100% subsidiary of Plato Capital Limited.

  2. The conditions precedent of the share sale agreement dated 23 February 2016 include the following:

  3. (a) resolutions being passed at a general meeting of Plato Capital Limited approving (i) the issuance of redeemable convertible unsecured loan stocks (RCULS) of an aggregate value up to SGD10,000,000.00 to Mr. Lim Kian Onn to raise proceeds to enable Truesource Sdn Bhd to satisfy the purchase consideration; and (ii) the transaction on the terms and conditions contained in the share sale agreement; and

    (b) all regulatory approvals being obtained for issuance of the RCULS by Plato Capital Limited.

  4. It is envisaged that the conditions precedent set out in the share sale agreement would be fulfilled by 31 May 2016.

A copy of the announcement dated 25 February 2016 made by Plato Capital Limited to the Singapore Exchange Securities Trading Limited is attached herewith for further information.

This announcement is dated 25 February 2016.


Attachment: Plato Capital Limited - SGX announcement on 25.02.2016.pdf

 

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