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Memorandum Of Understanding

BackSep 09, 2011
Date Announced : 09/09/2011



Type : Announcement
Subject :
MEMORANDUM OF UNDERSTANDING

Description :
BOUSTEAD HOLDINGS BERHAD (“BHB”)
MEMORANDUM OF UNDERSTANDING (“MOU”) IN RELATION TO THE PROPOSED DISPOSAL 12,750,000 ORDINARY SHARES OF RM1.00 EACH IDAMAN PHARMA MANUFACTURING SDN BHD (“IPMSB”) (“SALE SHARES”) REPRESENTING 51% EQUITY INTEREST IN IPMSB BY BOUSTEAD IDAMAN SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF BHB (“BISB”) TO PHARMANIAGA BERHAD, A SUBSIDIARY OF BHB (“PHARMANIAGA”) (“PROPOSED IPMSB DISPOSAL”)
   
 

Announcement Details/Table Section :

We refer to the announcement dated 10 August 2011 with regard to the MOU entered into in relation to the Proposed IPMSB Disposal.

On behalf of the Board of Directors of BHB, AFFIN Investment Bank Berhad wishes to announce that BISB and Pharmaniaga have today, 9 September 2011, mutually agreed to extend the period for negotiation of the terms of the Proposed IPMSB Disposal expiring 9 September 2011 for another 30 days from 9 September 2011.
We are constantly guided by our Group motto:
"A Tradition of Strength and Stability, A Vision of Growth and Excellence"