IDEAL JACOBS (MALAYSIA) CORPORATION BHD (“IJACOBS” OR “COMPANY”)
(I) PROPOSED CTSSB ACQUISITION;
(II) PROPOSED MECIP ACQUISITION;
(III) PROPOSED SCHEME OF ARRANGEMENT WITH SHAREHOLDERS;
(IV) PROPOSED ISSUANCE OF SHARES;
(V) PROPOSED OFFER FOR SALE;
(VI) PROPOSED TRANSFER OF LISTING STATUS; AND
(VII) PROPOSED MBO
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS” OR “PROPOSED REVERSE TAKEOVER”)
(Unless otherwise stated, the definitions used herein shall have the same meaning as defined in the announcement dated 18 August 2014.)
Reference is made to the announcements dated 18 August 2014, 27 January 2015, 19 March 2015, 2 April 2015 and 24 April 2015 in relation to the Proposals.
On behalf of the Board of Directors of IJacobs, M&A Securities Sdn Bhd wishes to announce that CMOG, IJacobs, the CTSSB Vendors and the Mecip Vendors have, on 18 May 2015, mutually agreed to extend the period for the performance of the terms of the Master Restructuring Agreement entered into on 18 August 2014 for the Proposed Reverse Take-Over for a further nine (9) months to 18 February 2016.
In addition, on the same date, the following parties have also mutually agreed to extend the period for the conditions to be satisfied in their respective agreements for a further nine (9) months to 18 February 2016:
(a) CMOG and the CTSSB Vendors for the CTSSB SAA in respect of the Proposed CTSSB Acquisition;
(b) CMOG and the Mecip Vendors for the Mecip SAA in respect of the Proposed Mecip Acquisition; and
(c) CMOG and Ideal Jacobs Holdings Sdn Bhd for the MBO SSA in respect of the Proposed MBO.
This announcement is dated 18 May 2015.
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