PROPOSED AMALGAMATION OF ROBI AXIATA LIMITED ("ROBI") AND AIRTEL BANGLADESH LIMITED ("AIRTEL BANGLADESH")
We refer to the announcements dated 28 January 2016 and 24 June 2016 in relation to the Proposed Merger (“Announcements”). Unless stated otherwise, the definitions used herein shall have the same meanings as set out in the Announcements.
We are pleased to announce that the High Court Division of the Supreme Court of Bangladesh (“High Court”) has, on 31 August 2016, approved the Scheme of Amalgamation for the amalgamation of Airtel Bangladesh with Robi, where Robi shall be the surviving corporation and shall hereafter be referred to as MergeCo. The approval of the High Court includes the following conditions (“Conditions”):-
In addition to the above Conditions, the Proposed Merger is also subjected to fulfilment of other conditions stipulated in the Agreement and is expected to be completed in the fourth quarter of 2016. The parties have, on even date, agreed to further extend the Agreement until 31 December 2016 or such other date as the parties may agree.
This announcement is dated 1 September 2016.
|Company Name||AXIATA GROUP BERHAD|
|Date Announced||01 Sep 2016|
|Category||General Announcement for PLC|