KUMPULAN PERANGSANG SELANGOR BERHAD (PERANGSANG SELANGOR OR COMPANY)
CONSOLIDATION OF THE SELANGOR WATER INDUSTRY
PROPOSED PURCHASE OF 100% EQUITY INTEREST HELD BY SYARIKAT PENGELUAR AIR SELANGOR HOLDINGS BERHAD (SPLASH HOLDINGS) IN SYARIKAT PENGELUAR AIR SUNGAI SELANGOR SDN BHD (SPLASH) BY PENGURUSAN AIR SELANGOR SDN BHD (AIR SELANGOR)
Reference is made to the earlier announcement dated 3 August 2018 in relation to Air Selangor’s proposed purchase of 100% equity interest held by SPLASH Holdings in SPLASH (“Offer”). Unless otherwise stated, words and phrases used in this announcement shall have the same meanings as defined in the aforesaid announcement.
Pursuant to Paragraph 9.03 of Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Board of Directors of Perangsang Selangor wishes to announce that the Company’s 30% associated company, SPLASH Holdings, has on 9 August 2018 resolved to accept the Offer from Air Selangor.
SPLASH Holdings expects to commence negotiations with Air Selangor to finalise the terms and conditions for the sale and purchase of SPLASH through a share purchase agreement (“SPA”) to be executed by Air Selangor and SPLASH Holdings. Both Air Selangor and SPLASH Holdings are expected to finalise the terms and conditions of the SPA by 14 September 2018 and an appropriate announcement will be released in due course upon the execution of the SPA.
This announcement is dated 9 August 2018.