SAM - MULTIPLE PROPOSALS
Announcement Type: General Announcement
Submitting Merchant Bank: RHB INVESTMENT BANK BERHAD
Company Name: SAM ENGINEERING & EQUIPMENT (M) BERHAD
Stock Name: SAM
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: MULTIPLE PROPOSALS
Description: SAM ENGINEERING & EQUIPMENT (M) BERHAD ("SAM MALAYSIA" or "the Company")
- Proposed acquisition by SAM Malaysia of the entire issued and paid-up share capital of a special purpose vehicle (following the transfer to such vehicle by Singapore Aerospace Manufacturing Pte Ltd ("SAM Singapore") of the engine casing manufacturing division of SAM Singapore), for an initial purchase consideration of RM135.0 million subject to adjustment, to be satisfied via the issuance of 101.25 million irredeemable convertible unsecured loan stock ("ICULS") at an issue price of RM1.00 each to SAM Singapore and the remaining RM33.75 million in cash ("Proposed Acquisition"); and
- Proposed restricted issue of ICULS of 33.75 million ICULS to minority shareholders of SAM Malaysia ("Proposed Restricted Issue")
(Collectively referred to as "Proposals")
Submitting Merchant Bank: RHB INVESTMENT BANK BERHAD
Company Name: SAM ENGINEERING & EQUIPMENT (M) BERHAD
Stock Name: SAM
Date Announced: 30/06/2011
Announcement Detail:
Type: Announcement
Subject: MULTIPLE PROPOSALS
Description: SAM ENGINEERING & EQUIPMENT (M) BERHAD ("SAM MALAYSIA" or "the Company")
- Proposed acquisition by SAM Malaysia of the entire issued and paid-up share capital of a special purpose vehicle (following the transfer to such vehicle by Singapore Aerospace Manufacturing Pte Ltd ("SAM Singapore") of the engine casing manufacturing division of SAM Singapore), for an initial purchase consideration of RM135.0 million subject to adjustment, to be satisfied via the issuance of 101.25 million irredeemable convertible unsecured loan stock ("ICULS") at an issue price of RM1.00 each to SAM Singapore and the remaining RM33.75 million in cash ("Proposed Acquisition"); and
- Proposed restricted issue of ICULS of 33.75 million ICULS to minority shareholders of SAM Malaysia ("Proposed Restricted Issue")
(Collectively referred to as "Proposals")
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