TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SOUTHERN STEEL BERHAD ("SSB" OR THE "COMPANY") PROPOSED DISPOSAL OF 12,883,562 EXISTING ORDINARY SHARES IN SOUTHERN STEEL MESH SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF SSB ("SSM"), REPRESENTING APPROXIMATELY 55.0% EQUITY INTEREST IN SSM, BY SSB TO BRC ASIA LIMITED FOR A TOTAL CASH CONSIDERATION OF RM61.05 MILLION ("PROPOSED DISPOSAL")
| SOUTHERN STEEL BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | SOUTHERN STEEL BERHAD ("SSB" OR THE "COMPANY")
PROPOSED DISPOSAL OF 12,883,562 EXISTING ORDINARY SHARES IN SOUTHERN STEEL MESH SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF SSB ("SSM"), REPRESENTING APPROXIMATELY 55.0% EQUITY INTEREST IN SSM, BY SSB TO BRC ASIA LIMITED FOR A TOTAL CASH CONSIDERATION OF RM61.05 MILLION ("PROPOSED DISPOSAL") |
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We refer to the previous announcements and the circular to shareholders dated 18 July 2025 in relation to the Proposed Disposal (“Circular”). Unless otherwise defined, the definitions set out in the Circular shall apply herein.
On behalf of the Board, UOBKH wishes to announce that the Company and BRC had, on 25 July 2025, mutually agreed to extend the Long Stop Date from 31 July 2025 to 31 August 2025 with the aim to accord the parties an additional period to fulfil the conditions precedent as set out in the SPA, in particular, obtaining the approval of the shareholders of SSB for the Proposed Disposal at the EGM to be held on 7 August 2025.
This announcement is dated 25 July 2025. |
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Announcement Info
| Company Name | SOUTHERN STEEL BERHAD |
| Stock Name | SSTEEL |
| Date Announced | 25 Jul 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25072025-00065 |