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-2024 17:43:10
Status
New
Announcement Sub Title
ACQUISITION OF 50% INTEREST IN MM CARS MYANMAR LIMITED FROM MITSUBISHI CORPORATION
Announcement Reference
SG240422OTHROYXI
Submitted By (Co./ Ind. Name)
Melvyn Pun
Designation
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 meanings as ascribed to them in the announcements dated 14 April 2022, 22 April 2022 and 18 April 2023 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 second amendment agreement on 22 April 2024 to extend the date for both (a) the adjustments of the purchase price to be mutually agreed between parties 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 three (3) years from the Closing Date i.e., 22 April 2022. All other material terms in the Acquisition remain unchanged.