23 August 2024
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
Description | SHARE SUBSCRIPTION AGREEMENT (SSA) BETWEEN TELEKOM MALAYSIA BERHAD (TM OR THE COMPANY), DIGITAL NASIONAL BERHAD (DNB) AND MINISTER OF FINANCE INCORPORATED (MOF INC.) (PROPOSED TRANSACTION) |
We refer to the Announcements dated 1 December 2023 and 21 June 2024 in relation to theProposed Transaction (SSA Announcements). Unless otherwise defined, the definitions set outin the SSA Announcements shall apply to this Announcement. This Announcement is to be readtogether with the SSA Announcements. TM hereby announces that it had on 18 July 2024 sought an extension from DNB of its LongstopDate of 21 August 2024 (Longstop Date) to fulfil the Conditions Precedents under the SSA.Such extension request was not approved by DNB. On 14 August 2024, TM submitted anappeal to DNB requesting DNB to reconsider its decision. Subsequently on 23 August 2024, DNB informed TM of its decision not to accept TM's appeal to extend the Longstop Date beyond 21 August 2024 and issued termination notice of TM's SSA. The tenure of TM'snominee director on the Board of DNB has accordingly ceased. The termination is not expected to have any material effect on the financials of TM Group forthe financial year ending 31 December 2024. TM will continue to support 5G ecosystem in Malaysia and provide high quality converged digitalofferings across various segments of our customers. Attached is a Media Statement in relation to the above. This announcement is dated 23 August 2024. Please refer attachment below. |
Company Name | TELEKOM MALAYSIA BERHAD |
Stock Name | TM |
Date Announced | 23 Aug 2024 |
Category | General Announcement for PLC |
Reference Number | GA1-23082024-00029 |
Attachments