Asset Acquisitions and Disposals::PROPOSED ACQUISITION OF UP TO 55% OF THE TOTAL SHARES OF PT. CAHAYA SAKTI

Issuer & Securities

Issuer/ Manager
ASTI HOLDINGS LIMITED
Securities
ASTI HOLDINGS LIMITED - SG1G77872271 - 575
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
30-Dec-2016 00:44:27
Status
New
Announcement Sub Title
PROPOSED ACQUISITION OF UP TO 55% OF THE TOTAL SHARES OF PT. CAHAYA SAKTI
Announcement Reference
SG161230OTHRKZA1
Submitted By (Co./ Ind. Name)
DATO' MICHAEL LOH SOON GNEE
Designation
EXECUTIVE CHAIRMAN & CEO
Description (Please provide a detailed description of the event in the box below)
The board of directors (the Board) of the Company refers to the announcement on 17 October 2016 that the Company had entered into a non-binding term sheet with Mr. Ifachrul Madin (the Seller) for the purchase by the Company of shares representing up to 55% of the total issued share capital of PT. Cahaya Sakti (the Target) (the Proposed Acquisition). The Board is pleased to announce that the Company has, on 29 December 2016 entered into the sale and purchase agreement for the Proposed Acquisition.

Upon the completion (the Completion) of the Proposed Acquisition, the Company will hold 19,250 ordinary shares representing approximately 55% of the issued and paid-up capital of the Target. On Completion, the Company will enter into a shareholders agreement with the Target and its shareholders for the regulation of the business and affairs of the Target.

Attachments

ASTI_Proposed Acquisition of PT Cahaya Sakti_SPA.pdf
Total size =371K