PERISAI - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: HONG LEONG INVESTMENT BANK BERHAD
Company Name: PERISAI PETROLEUM TEKNOLOGI BHD
Stock Name: PERISAI
Date Announced: 07/09/2011
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: CY-110906-37891
Subject: PERISAI PETROLEUM TEKNOLOGI BHD (''PERISAI" OR THE ''COMPANY")
-PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN GARUDA ENERGY (L) INC ("GARUDA") FROM NAGENDRAN A/L C. NADARAJAH ("VENDOR") FOR A PURCHASE CONSIDERATION OF USD70,000,000 TO BE SATISFIED VIA USD50,000,000 IN CASH AND THE REMAINING USD20,000,000 VIA THE ISSUANCE OF NEW ORDINARY SHARES OF RM0.10 EACH IN PERISAI ("PERISAI SHARES") AT AN ISSUE PRICE OF RM0.65 PER PERISAI SHARE ("PROPOSED GARUDA ACQUISITION")
-PROPOSED PUT AND CALL OPTION AGREEMENT FOR THE ACQUISITION BY GARUDA OF THE FUEL GAS CONDITIONING SYSTEM AND OIL & GAS SEPERATION SYSTEM ("SYSTEM") FROM HUMMINGBIRD ENERGY (L) INC ("HUMMINGBIRD") FOR A PURCHASE CONSIDERATION OF USD3,000,000 ("PROPOSED PUT AND CALL OPTION")
-PROPOSED PUT OPTION AGREEMENT FOR THE DISPOSAL BY GARUDA OF THE MOBILE OFFSHORE PRODUCTION UNIT ("MOPU") TO THE VENDOR AT A DISPOSAL CONSIDERATION OF USD30,000,000 ("PROPOSED PUT OPTION")
Description: We refer to the announcement dated 26 August 2011 and on behalf of Perisai, please find attached the replies to Bursa Malaysia Securities Berhad's queries via its letter dated 6 September 2011.
Query Letter content: We refer to Perisai's announcement dated 26 August 2011 in respect of the
aforesaid matters.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-
To quantify the actual total cost for the MOPU Conversion (in view that it has
been completed on 26 July 2011), the amount paid and the amount which remains
outstanding as at to-date, and where applicable, whether the total cost for the
MOPU Conversion will be fully paid prior to the completion of the Proposed
Garuda Acquisition.
To incorporate brief details on Aroga International Limited and Tael One
Partners Ltd.
To indicate the timing for Garuda to refinance the Existing Loan.
To also quantify the profit guarantee provided by the Vendor over the Optional
Extension Term.
To state the details of Perisai's right of recourse in the event the profit
guarantee is not met.
To incorporate brief details of the independent valuers of the Rig and the
System.
To clarify whether part of the cost for the System has already been imputed
into the purchase consideration of the Proposed Garuda Acquisition (in view
that the System has already been installed on the MOPU). If in affirmative, to
quantify the actual cost paid and to be paid for the System and to state the
actual discount or premium over its fair market value.
To elaborate further on the rationale for the Proposed Put And Call Option
taking into consideration that Garuda may be required to incur an additional
USD3 million in the event that Hummingbird elects to exercise the System Put
Option, eventhough Garuda may no longer need the System after the end of the
Primary Term.
To state the methodology used in arriving at the fair market value of USD15
million for the System.
To incorporate the basis in determining the disposal price of USD30 million for
the Proposed Put Option on the MOPU in view that the fair market value of the
MOPU is between USD105 million to USD110 million 2 years after the completion
of the MOPU Conversion and between USD95 million to USD100 million 4 years
after the completion of the MOPU Conversion.
To clarify that in the event the Put Option pursuant to the Proposed Put Option
is exercised, the transaction will be a related party transaction in view that
it will be a transaction with a major shareholder.
To also state whether the Deposit paid by Perisai for the Proposed Garuda
Acquisition is refundable.
To elaborate on the principal activity of Hummingbird of "offshore trading".
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
SUZALINA HARUN
Head, Issuers
Listing Division
Regulation
/WCY
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
Attachments: Reply to Bursa.pdf
Submitting Merchant Bank: HONG LEONG INVESTMENT BANK BERHAD
Company Name: PERISAI PETROLEUM TEKNOLOGI BHD
Stock Name: PERISAI
Date Announced: 07/09/2011
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: CY-110906-37891
Subject: PERISAI PETROLEUM TEKNOLOGI BHD (''PERISAI" OR THE ''COMPANY")
-PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN GARUDA ENERGY (L) INC ("GARUDA") FROM NAGENDRAN A/L C. NADARAJAH ("VENDOR") FOR A PURCHASE CONSIDERATION OF USD70,000,000 TO BE SATISFIED VIA USD50,000,000 IN CASH AND THE REMAINING USD20,000,000 VIA THE ISSUANCE OF NEW ORDINARY SHARES OF RM0.10 EACH IN PERISAI ("PERISAI SHARES") AT AN ISSUE PRICE OF RM0.65 PER PERISAI SHARE ("PROPOSED GARUDA ACQUISITION")
-PROPOSED PUT AND CALL OPTION AGREEMENT FOR THE ACQUISITION BY GARUDA OF THE FUEL GAS CONDITIONING SYSTEM AND OIL & GAS SEPERATION SYSTEM ("SYSTEM") FROM HUMMINGBIRD ENERGY (L) INC ("HUMMINGBIRD") FOR A PURCHASE CONSIDERATION OF USD3,000,000 ("PROPOSED PUT AND CALL OPTION")
-PROPOSED PUT OPTION AGREEMENT FOR THE DISPOSAL BY GARUDA OF THE MOBILE OFFSHORE PRODUCTION UNIT ("MOPU") TO THE VENDOR AT A DISPOSAL CONSIDERATION OF USD30,000,000 ("PROPOSED PUT OPTION")
Description: We refer to the announcement dated 26 August 2011 and on behalf of Perisai, please find attached the replies to Bursa Malaysia Securities Berhad's queries via its letter dated 6 September 2011.
Query Letter content: We refer to Perisai's announcement dated 26 August 2011 in respect of the
aforesaid matters.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-
To quantify the actual total cost for the MOPU Conversion (in view that it has
been completed on 26 July 2011), the amount paid and the amount which remains
outstanding as at to-date, and where applicable, whether the total cost for the
MOPU Conversion will be fully paid prior to the completion of the Proposed
Garuda Acquisition.
To incorporate brief details on Aroga International Limited and Tael One
Partners Ltd.
To indicate the timing for Garuda to refinance the Existing Loan.
To also quantify the profit guarantee provided by the Vendor over the Optional
Extension Term.
To state the details of Perisai's right of recourse in the event the profit
guarantee is not met.
To incorporate brief details of the independent valuers of the Rig and the
System.
To clarify whether part of the cost for the System has already been imputed
into the purchase consideration of the Proposed Garuda Acquisition (in view
that the System has already been installed on the MOPU). If in affirmative, to
quantify the actual cost paid and to be paid for the System and to state the
actual discount or premium over its fair market value.
To elaborate further on the rationale for the Proposed Put And Call Option
taking into consideration that Garuda may be required to incur an additional
USD3 million in the event that Hummingbird elects to exercise the System Put
Option, eventhough Garuda may no longer need the System after the end of the
Primary Term.
To state the methodology used in arriving at the fair market value of USD15
million for the System.
To incorporate the basis in determining the disposal price of USD30 million for
the Proposed Put Option on the MOPU in view that the fair market value of the
MOPU is between USD105 million to USD110 million 2 years after the completion
of the MOPU Conversion and between USD95 million to USD100 million 4 years
after the completion of the MOPU Conversion.
To clarify that in the event the Put Option pursuant to the Proposed Put Option
is exercised, the transaction will be a related party transaction in view that
it will be a transaction with a major shareholder.
To also state whether the Deposit paid by Perisai for the Proposed Garuda
Acquisition is refundable.
To elaborate on the principal activity of Hummingbird of "offshore trading".
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
SUZALINA HARUN
Head, Issuers
Listing Division
Regulation
/WCY
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
Attachments: Reply to Bursa.pdf
GENTING - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS): DEALINGS OUTSIDE CLOSED PERIOD
Announcement Type: General Announcement
Company Name: GENTING BERHAD
Stock Name: GENTING
Date Announced: 07/09/2011
Announcement Detail:
Type: Announcement
Subject: DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS OUTSIDE CLOSED PERIOD
Description: Pursuant to Chapter 14.09(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, we set out below details of the dealings in the Company's securities by a principal officer.
Company Name: GENTING BERHAD
Stock Name: GENTING
Date Announced: 07/09/2011
Announcement Detail:
Type: Announcement
Subject: DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS OUTSIDE CLOSED PERIOD
Description: Pursuant to Chapter 14.09(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, we set out below details of the dealings in the Company's securities by a principal officer.
WASEONG - Listing Circular
Announcement Type: Listing Circular
Company Name: WAH SEONG CORPORATION BERHAD
Stock Name: WASEONG
Date Announced: 07/09/2011
Announcement Detail:
Subject: WASEONG- CONVERSION OF RM6,639,989 NOMINAL VALUE OF IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCK 2002/2012 ("CONVERSION")
Contents: Kindly be advised that the abovementioned Company's additional 16,599,972 new ordinary shares of RM0.50 each arising from the aforesaid Conversion will be granted listing and quotation with effect from 9.00 a.m., Friday, 9 September 2011.
Company Name: WAH SEONG CORPORATION BERHAD
Stock Name: WASEONG
Date Announced: 07/09/2011
Announcement Detail:
Subject: WASEONG- CONVERSION OF RM6,639,989 NOMINAL VALUE OF IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCK 2002/2012 ("CONVERSION")
Contents: Kindly be advised that the abovementioned Company's additional 16,599,972 new ordinary shares of RM0.50 each arising from the aforesaid Conversion will be granted listing and quotation with effect from 9.00 a.m., Friday, 9 September 2011.
PARKSON - Notice of Shares Buy Back by a Company pursuant to Form 28A
Announcement Type: Notice of Shares Buy Back by a Company Pursuant to Form 28A
Company Name: PARKSON HOLDINGS BERHAD
Stock Name: PARKSON
Date Announced: 07/09/2011
Announcement Detail:
Date of buy back from: 24/08/2011
Date of buy back to: 24/08/2011
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 50,000
Minimum price paid for each share purchased ($$): 5.620
Maximum price paid for each share purchased ($$): 5.650
Total amount paid for shares purchased ($$): 283,481.76
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 50,000
Total number of shares retained in treasury (units): 3,067,631
Number of shares purchased which were cancelled (units): 0
Total issued capital as diminished: 0
Date lodged with registrar of companies: 07/09/2011
Lodged by: Parkson Holdings Berhad
Company Name: PARKSON HOLDINGS BERHAD
Stock Name: PARKSON
Date Announced: 07/09/2011
Announcement Detail:
Date of buy back from: 24/08/2011
Date of buy back to: 24/08/2011
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 50,000
Minimum price paid for each share purchased ($$): 5.620
Maximum price paid for each share purchased ($$): 5.650
Total amount paid for shares purchased ($$): 283,481.76
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 50,000
Total number of shares retained in treasury (units): 3,067,631
Number of shares purchased which were cancelled (units): 0
Total issued capital as diminished: 0
Date lodged with registrar of companies: 07/09/2011
Lodged by: Parkson Holdings Berhad
SUIWAH - PROVISION OF FINANCIAL ASSISTANCE
Announcement Type: General Announcement
Company Name: SUIWAH CORPORATION BERHAD
Stock Name: SUIWAH
Date Announced: 07/09/2011
Announcement Detail:
Type: Announcement
Subject: PROVISION OF FINANCIAL ASSISTANCE
Description: QUARTERLY DISCLOSURE PURSUANT TO PARAGRAPH 8.23(2)(e) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
Attachments: Table 1.pdf
Company Name: SUIWAH CORPORATION BERHAD
Stock Name: SUIWAH
Date Announced: 07/09/2011
Announcement Detail:
Type: Announcement
Subject: PROVISION OF FINANCIAL ASSISTANCE
Description: QUARTERLY DISCLOSURE PURSUANT TO PARAGRAPH 8.23(2)(e) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
Attachments: Table 1.pdf
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