10 May 2023
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description |
SHARE SUBSCRIPTION AGREEMENT (SSA) BETWEEN TELEKOM MALAYSIA BERHAD (TM) AND DIGITAL NASIONAL BERHAD (DNB): LAPSE OF CONDITIONS PRECEDENT (CP) LONGSTOP DATE FOR THE PROPOSED SUBSCIPTION OF: (i) 100,000 ordinary shares (Subscription Shares) in DNB; and (ii) 285,614,286 ordinary shares (Subscription Rights to Allotment) |
We refer to our announcement on 7 October 2022 in respect of the SSAto subscribe to a 20% equity stake in DNB [Ref No. GA1-07102022-00047].
TM hereby announces that the longstop date to fulfil all CPs under the SSA has lapsed. Consequently, pursuant to the terms of the SSA, TM has on 10 May 2023, issued a termination notice to DNB to be effective immediately.
The termination of the SSA is not expected to have any significant effect on earnings, net assets and gearing of TM Group for the financial year ending 31 December 2023.
TM customers will continue to enjoy 5G services and solutions, as the 5G Wholesale Access Agreement with DNB remains intact.
This announcement is dated 10 May 2023.
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TM |
| Date Announced | 10 May 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-10052023-00033 |