Section Heading
Section Heading
Others
Type | Announcement |
Subject | OTHERS |
Description |
PROPOSED DISPOSAL BY MALAYSIA AIRPORTS (LABUAN) PRIVATE LIMITED (MALPL) OF ITS ENTIRE INTEREST IN GMR MALE INTERNATIONAL AIRPORT LIMITED (GMIAL) (PROPOSED DISPOSAL) |
The Board of Directors (Board) of Malaysia Airports Holdings Berhad (MAHB) wishes to announce that its wholly-owned subsidiary, MALPL, has on 14 March 2018 entered into a Share Purchase Agreement (SPA) with (GMR Holdings or the Purchaser) for the disposal of all of the 8,812,190 equity shares, which represents 23% of the total issued and paid-up share capital of GMIAL to GMR Holdings, receivables and loans for a cash consideration of USD7.3 million (approximately RM28.5 million) subject to the terms and conditions contained in the SPA (Transaction). The Proposed Disposal was agreed with GMR Holdings (the majority shareholder with 77% shareholding in GMIAL) subsequent to the following events announced and disclosed previously:
The Proposed Disposal is not expected to have any effect on MAHB’s issued and paid-up share capital and/or MAHB’s substantial shareholders’ shareholding in MAHB. The total carrying value of GMIAL in MAHB’s book has been fully impaired in 2014. As such, the gain arising from the Proposed Disposal is estimated to be USD7.3 million (equivalent to RM28.5 million). This announcement is dated 27 March 2018.
Remarks: The exchange rate of the United States Dollar (USD) 1.00 : Ringgit Malaysia (RM) 3.9035 being the middle rates prevailing as at 17:00 on 14 March 2018 as published by Bank Negara Malaysia, have been applied in this announcement for illustration purposes. |
Announcement Info
Company Name | MALAYSIA AIRPORTS HOLDINGS BERHAD |
Stock Name | AIRPORT |
Date Announced | 27 Mar 2018 |
Category | General Announcement for PLC |
Reference Number | GA1-27032018-00062 |