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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): RELATED PARTY TRANSACTIONS

01/27/2012 | 04:38am

Submitting Merchant Bank

:

AMINVESTMENT BANK BERHAD
Company Name

:

LEADER UNIVERSAL HOLDINGS BERHAD
Stock Name

:

LEADER  
Date Announced

:

27/01/2012


Type

:

Announcement
Subject

:

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS

Description

:

LEADER UNIVERSAL HOLDINGS BERHAD ("LEADER" OR THE "COMPANY")

(I) PROPOSED DISPOSAL OF THE ENTIRE BUSINESS AND UNDERTAKINGS, INCLUDING ALL OF THE ASSETS AND LIABILITIES OF LEADER, TO HNG CAPITAL SDN BHD (FORMERLY KNOWN AS VECTOR DIMENSION SDN BHD) ("HNGC") ("PROPOSED DISPOSAL"); AND

(II) PROPOSED DISTRIBUTION OF THE PROCEEDS ARISING FROM THE PROPOSED DISPOSAL TO ALL ENTITLED SHAREHOLDERS OF LEADER ("PROPOSED DISTRIBUTION")

(COLLECTIVELLY REFERRED TO AS "PROPOSALS")

Announcement Details/Table Section :

We refer to the Company's announcements dated 17 November 2011 and 30 November 2011 and the Circular to the shareholders of LEADER dated 9 January 2012 in respect of the Proposals. (Unless otherwise defined, all terms and abbreviations used in this announcement shall have the same meaning ascribed in the aforesaid announcements.)

On behalf of the Board of Directors of LEADER, AmInvestment Bank Berhad wishes to announce that Electricite du Cambodge ("EDC"), the national electric power dispatch and transmission agency of the Ministry of Industry, Mines and Energy of the Government of the Kingdom of Cambodia had vide its letter dated 23 January 2012 informed that EDC has no objection in respect of the proposed transfer of the Assets and Liabilities to HNGC (which for the avoidance of doubt includes the proposed transfer of the shares in Leader Universal (Hong Kong) Company Limited to HNGC and the proposed change in the ultimate shareholder of the 60% shareholdings in Cambodia Utilities Pte Ltd) provided that LEADER complies with the procedures for the assignment and transfer as stated in the Power Purchase Agreement dated 15 September 1994 (as varied by the supplemental agreement dated 14 December 1994, 4 December 1996 and 29 May 2003).

This Announcement is dated 27 January 2012.


 
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