Asset Acquisitions and Disposals::ACQUISITION OF 50% INTEREST IN MM CARS MYANMAR LIMITED FROM MITSUBISHI CORPORATION

Issuer & Securities

Issuer/ Manager
YOMA STRATEGIC HOLDINGS LTD.
Securities
YOMA STRATEGIC HOLDINGS LTD - SG1T74931364 - Z59
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
22-Apr-2025 07:08:40
Status
New
Announcement Sub Title
ACQUISITION OF 50% INTEREST IN MM CARS MYANMAR LIMITED FROM MITSUBISHI CORPORATION
Announcement Reference
SG250422OTHROM0D
Submitted By (Co./ Ind. Name)
Melvyn Pun
Designation
Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meaning as ascribed to them in the announcements dated 14 April 2022, 22 April 2022, 18 April 2023 and 22 April 2024 relating to the acquisition of 50% interest in MM Cars Myanmar Limited from Mitsubishi Corporation ("MC") by the Company's wholly owned subsidiary, Myanmar Motors Pte. Ltd. ("MMPL") (the "Acquisition").

The board of directors (the "Board") of Yoma Strategic Holdings Ltd. (the "Company", together with its subsidiaries, the "Group") wishes to inform shareholders that MC and MMPL have entered into a third amendment agreement on 21 April 2025 to extend the period for (a) the parties to mutually agree on the adjustments to the purchase price; and (b) MC to have the right to buy back all or part of the Sale Shares if the adjustments to the purchase price cannot be agreed, to within four (4) years from the Closing Date i.e. 22 April 2022. This period may to be further extended by mutual agreement of parties for up to two (2) additional extensions of one (1) year each. All other material terms in the Acquisition remain unchanged.