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Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions

BackJan 17, 2024

 

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description MALAYSIA AIRPORTS HOLDINGS BERHAD ("MAHB" OR "THE COMPANY") - EXECUTION OF AMENDMENT AGREEMENT TO SALE AND PURCHASE AGREEMENT DATED 25 OCTOBER 2023 IN RELATION TO PROPOSED DISPOSAL OF ENTIRE 11% EQUITY INTEREST IN GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED ("GHIAL") ("PROPOSED DISPOSAL")

 

(Unless otherwise stated, all abbreviations used in this announcement shall have the same meanings as defined in the Company’s announcements dated 25 October 2023 and 30 October 2023 in relation to the Proposed Disposal)

We refer to the announcements dated 25 October 2023 and 30 October 2023 in relation to the proposed disposal of the entire 41,580,000 equity shares of Rs.10 each held by the Company together with its wholly owned subsidiary, MAHB (Mauritius) Private Limited (“MAMPL”), representing 11% of the issued and paid-up share capital of GMR Hyderabad International Airport Limited ("GHIAL") to GMR Airports Singapore Private Limited (“GASPL”), for a cash consideration of USD100 million (approximately RM470.40 million) subject to the terms and conditions of the Sale and Purchase Agreement dated 25 October 2023 (“SPA”). GMR Airports Limited (“GAL”) is also a party in the SPA.

The Board of Directors of MAHB (“the Board”) wishes to announce that the Company, together with its wholly owned subsidiary, MAMPL (MAHB and MAMPL are collectively referred to as the “Sellers”), GASPL and GAL, had on 17 January 2024, entered into an amendment agreement (“Amendment Agreement”) to the SPA.

Pursuant to the Amendment Agreement, the Parties have mutually agreed to modify, amend and/or vary the terms of the SPA to incorporate the following: -

  1. GAL, an Affiliate of GASPL shall act as the ‘Buyer’ in place of GASPL and shall purchase the Sale Shares from the Sellers in accordance with the terms of the SPA and the Amendment Agreement; and
  2. GAL shall be entitled to all the rights and entitlements and required to observe and discharge and perform or cause to perform all the obligations of the Buyer under the provisions of the SPA, and all provisions of the SPA (including the Buyer Warranties) which are applicable to the Buyer shall apply mutatis mutandis to GAL, except as amended under the Amendment Agreement.

A copy of the Amendment Agreement will be available for inspection at the Registered Office of the Company at Malaysia Airports Corporate Office, Persiaran Korporat KLIA, 64000 KLIA, Sepang, Selangor Darul Ehsan, Malaysia, during normal business hours from Mondays to Fridays (except public holidays) for a period of seven (7) business days from the date of this announcement.

 

This announcement is dated 17 January 2024.

 


Announcement Info

Company Name MALAYSIA AIRPORTS HOLDINGS BERHAD
Stock Name AIRPORT
Date Announced 17 Jan 2024
Category General Announcement for PLC
Reference Number GA1-16012024-00033